US retailer Circuit City to close

[MJA]

bye bye Circuit City

US electronics retailer Circuit City is to close after failing to reach a deal with its creditors and lenders, with the loss of 30,000 jobs.

Liquidators will now sell off the firm's assets. The announcement comes two months after the firm was forced to seek bankruptcy protection.

Some 567 Circuit City stores will now shut for the last time. About 155 stores had already closed in December.

Circuit City vice chairman James Marcum said the decision was "regrettable".

'Extremely disappointed'

The firm had seen sales slump as it lost ground to larger rival Best Buy and was hit by the general slowdown in US consumer spending.

"We are extremely disappointed by this outcome," said James Marcum, vice chairman and acting president and chief executive.

"The company had been in continuous negotiations regarding a going concern transaction.

"Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement."

http://news.bbc.co.uk/2/hi/business/7834250.stm

[yoda313]

Is this total like Compusa?

I thought there were still some that were going to stay open. Are all of them closing now?

[Noahtuck]

Yep, they were gonna leave some open but not anymore....
Buh Bye

Circuit City to liquidate remaining US stores

Bankrupt Circuit City Stores Inc., unable to work out a sale of the company, said Friday it will go out of business — closing its 567 U.S. stores and cutting 30,000 jobs.

There are quite a few within a couple of minutes to a half hour drive of where i live.

Welcome to Michigan!!!
Home of the MOLE QUEEN!!!!!!!

[bendixG15]

Circuit City announced liquidation today. Closing all of their 567 stores in the US and 765 stores and dealer outlets in Canada.

Taken from here .........
http://www.marketwatch.com/News/Story/circuit-city-liquidate-adding-us/story.aspx?guid...11450A5209C%7D

edit - Noahtuck beat me to it

[Number Six]

Is this total like Compusa?

I thought there were still some that were going to stay open. Are all of them closing now?

CompUSA is still in business in a few states in the south - Florida, etc - and online sales - I get email ads from them all the time.



Circuit City's prices were always too high, and their sales people were way too aggressive for my tastes.

[gadgetguy]

What? How can that be? I drove by the local CC today and they had signs out offering 36 month financing...


I hated shopping there. Number Six said it best:

Circuit City's prices were always too high, and their sales people were way too aggressive for my tastes.

[Number Six]

Thanks gadgetguy

[gadgetguy]

[Soopafresh]

Bad lighting, dingy carpets, and stupid product placement. They should have called themselves "Circuit Squalor"

[Xylob the Destroyer]

Circuit City sales people aggressive? Seriously? I literally had to chase people down to get some ******* help in that shithole...
I went to the local on the first day of their liquidation and it was a freakin' riot zone. I figured 'there must be some awesome deals!'. Then I saw the sign that said "ENTIRE STORE 10% OFF!".
WTF?
That's sales tax....
Why the hell are these idiots fighting over crap and standing in line for an hour to buy shit at 10% off?
Been going back about every other day to see if there's better deals, but no change yet. I'll check 'em out again tomorrow though -- I got my eye on a set of outdoor speakers and so far that's about the only thing in the store that nobody has touched. I guess I'm the only one in these parts who likes to listen to tunes when he fires up the BBQ.

[MeDiCo_BrUjO]

Not to mention that the prices are usually marked up to compensate for that "discount".