Unfortunately for investors in Circuit City, which is going after approval to liquidate the company, there doesn't look to be any remaining value for common-stock shareholders.
Circuit City's stock, which traded around $20 in January 2007 and $4 in January 2008, is worth virtually nothing today. If you're interested in background, check out The Consumerist's posting of "The Decline and Fall of Circuit City" graph.
Mutual-fund investors shouldn't worry. According to Morningstar, as of September 30, the few mutual funds that still held the stock had a small number of shares.