Circuit City to liquidate remaining US stores

xavierx · Joined: Nov 06, 2004 Posts: 5427

http://www.breitbart.com/article.php?id=D95OBUM00&show_article=1&a...catnum=

Quote:

Bankrupt Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, said Friday it failed to find a buyer and will liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed.
...

Wow.

drwho07 · Joined: Nov 29, 2007 Posts: 1546 Location: Central FL, USA

Depressing......VERY Depressing.
Who's next? Sears? K-Mart?

Over the years I've been able to find things I needed, at C.C. when I couldn't find them any place else.

I hear the SALE starts today and they want the lights OFF by March.

It's surprising that no-one would step up and either bail them out or BUY them out.

When Comp USA went under, Tiger Direct bought them, including the name.
All Comp USA stores today are owned and run by Tiger Direct.

Excuse me.....I'm on my way to Circuit City! Laughing

Bye now!
The Doctor Cool

zlim · Joined: Mar 11, 2005 Posts: 2636

[quote]Sears? K-Mart?[quote] They merged awhile back because both companies were having problems.

I'm upset because the only choice I will now have is Best Buy. With no competition, I'm sure they will raise their prices. I also don't appreciate the sales staff at BB.
We have no CompUSA stores any where near here.

xavierx · Joined: Nov 06, 2004 Posts: 5427

[quote="zlim"][quote]Sears? K-Mart?

drwho07 · Joined: Nov 29, 2007 Posts: 1546 Location: Central FL, USA

Well, within a decent driving distance I do have all the big name consumer electronics stores.

From Wal-Mart to Comp USA, the list is a long one, but getting shorter. Crying or Very sad

Best Buy? What a joke for a retail store!
I think everyone should walk thru a Best Buy store every once in a while, just to stay reminded of what a bad example they are.
Their "Geek Squad" with their little black and orange VW bugs, is the laughing stock of the Computer Service industry.
I practically break out in a belly-laugh every time someone mentions them to me.

But, fortunately, we still have the internet and ON-Line ordering.

I love driving to Orlando and going to the "Computer Warehouse" and sitting down with the sales manager and basically "Shopping" for the things I want. But with gas prices close to $2 per gal, it costs me nearly $16 just in fuel costs, to make that trip. Then if I drive around and visit some of my other favorite haunts, the price goes up.

So, it's much cheaper for me to just pull up their web site on my PC, while I sit here safely in the comfort of my home and do my shopping without all the travel expenses. Friday last, I ordered me a new and much faster CPU for my main PC.
I'll gladly pay the $5 or so, shipping charges, to just be able to sit here at home and save the gas money.

As for Circuit City, I went there yesterday and found the store FULL of shoppers, but hardly anyone was leaving the store with any merchandise in their hands.
Many items are NOT even on sale yet. That probably won't happen till the "Liquidators" get in there.

It will bear watching, just how low the prices go before the lights are turned out and the doors locked. Wink

Doc

xavierx · Joined: Nov 06, 2004 Posts: 5427

I'm also waiting for the usual 20-50% markup with the 10% off signs that usually start these "liquidation sales".

drwho07 · Joined: Nov 29, 2007 Posts: 1546 Location: Central FL, USA

That's exactly what I was seeing today.
Items marked "Clearance" that were priced higher than they were last week.

And there were noticeably fewer people in the store today than there were Saturday.
I guess the word is out! Laughing

Doc

system001

to tell the truth circuit city did it to themselves. on wednesday i went to the store here in portland just down the street. they had 10% to 20% off. however their prices on almost everything i could beat anywhere else without a sale. greed is what is killing corporate america and nothing else. i cannot and will not feel sorry for the owners of these companies. i do feel sorry for the average employee who will loose their job, and the consumer who will now pay higher prices because of less competition. i said it before that the first thing our government needs to before it starts handing out money is reregulate all businesses and make them understand if they want to sell some thing here it must be made here. deregulation started this mess.

Bearly1227 · Joined: Feb 21, 2003 Posts: 48 Location: Central MA, USA

>Depressing......VERY Depressing.
>Who's next? Sears? K-Mart?

By way of information, K-Mart did go belly up, and after the courts divested the corporation of all liabilities (i.e. Employee Retirement, Shareholders, Lien holders, etc.), some guy buys up K-Mart (aka the old Kresge & Company) for like a penny on the dollar, keeps the more profitable stores open, sold the remaining real estate, and used those funds to leverage his buyout of Sears, sans also (Employee Retirement, Shareholders, Lien holders, etc.)

:snip

>It's surprising that no-one would step up and either bail them out or BUY them out.

What, the financial pundits claim, is that BestBuy may have problems, as it is felt that it may take a year for CC to go fully under, meanwhile they'll be cutting their prices below BestBuy thereby reducing BestBuy's. profitability!

>When Comp USA went under, Tiger Direct bought them, including the name.
All Comp USA stores today are owned and run by Tiger Direct.

>Bye now!
>The Doctor Cool

I used to hate what Wal-Mart was doing to the local marketplace, until I realized that Wal-Mart is doing to the national chain stores, what the original chain stores (A&P, First National, Rexall Drugs, etc.) did to the local run grocery stores.

And, can anyone name another store, that still provides a 90 day instore return policy on electronics, and THEN the 1 year Mfrs warranty kicks in, other than Wal-Mart (and possibly Amway Global) ? Amway used to offer it;s own one year return/replacement policy on hard goods.

Another paradigm change, who woulda thunk, 20 years ago, that we'd go to the local gas station to buy a Dunkin Donut, Coffee, maybe a sandwich, a new thermos, sunglasses, refill the propane tank, a few grocery items for the cabin and . . oh yeah . . some gas, too ! Wink

Bob