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Started By
Message
Circuit City Files Bankruptcy Protection: closing 20% stores
Posted on 11/10/08 at 8:03 am
Posted on 11/10/08 at 8:03 am
quote:
Circuit City Stores, the nation's second-biggest electronics retailer, filed for bankruptcy protection Monday but will stay open for business as the holidays approach.
It filed under Chapter 11 of the bankruptcy code, which will allow it to hold off creditors and continue operations while it develops a financial reorganization plan.
The Richmond, Va.-based retailer has been struggling as nervous consumers spend less and credit has become tighter. The announcement came a week after it said it would close 20 percent of its stores and lay off thousands of workers.
The company said it decided to file because it was facing pressure from vendors who threatened to withhold products during the busy holiday shopping season.
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4
Posted on 11/10/08 at 9:01 am to Afreaux
Circuit City is a pathetically managed company...
Posted on 11/10/08 at 9:35 am to ForeLSU
I can't say I am surprised. CC and Best Buy are ridiculously overpriced when compared to the online retailers (NewEgg, TigerDirect, OneCall, etc).
I'll go there just to look, copy down the model number and then make my purchase online.
I'll go there just to look, copy down the model number and then make my purchase online.
Posted on 11/10/08 at 9:52 am to Will Cover
quote:
I can't say I am surprised. CC and Best Buy are ridiculously overpriced when compared to the online retailers (NewEgg, TigerDirect, OneCall, etc).
I'll go there just to look, copy down the model number and then make my purchase online.
+1
I got my laptop there, though. It was very cheap around Christmas. I can't remember anything else that I bought there, though. May have to take advantage of some of the liquidation sales, though.
Posted on 11/10/08 at 10:55 am to ASUTiger
I figured they'd bleed a little longer before pulling the plug. I wonder if that guy who posted about buying CC stock went ahead with that idea.
Posted on 11/10/08 at 5:21 pm to Afreaux
Another weak company that I've always wondered how they've succeeded in the first place. It's horribly run, has horrible prices, large overhead relative to other big boxes, but decent customer service (usually).
They had no business extending themselves out as far as they did. I was blown away that they opened a new big box by the Mall of LA. They were worse than Conns.
They had no business extending themselves out as far as they did. I was blown away that they opened a new big box by the Mall of LA. They were worse than Conns.
Posted on 11/10/08 at 5:41 pm to SnowMan77
they matched a price for me on my garmin gps. 
Posted on 11/10/08 at 5:55 pm to sheek
matched a price with who? Best Buy? I don't know where the good deals on GPS's are, but I know a lot of people buy electronics, especially computers and computer parts over the internet and it's a lot cheaper.
This post was edited on 11/10/08 at 5:56 pm
Posted on 11/10/08 at 6:40 pm to SnowMan77
quote:
matched a price with who? Best Buy
yeah it was best buy. I bought one that was priced around $180 at circuit city for $139. I checked tiger direct and I was going to pay a little more with taxes and shipping. actually it was one of the better deals I received from circuit city and made up for the arse rapin I received on my samsung
Posted on 11/10/08 at 7:04 pm to sheek
Garmin is their 4th biggest creditor, 115 million (small number these days). On a side note, we as consumers should end up seeing some serious deals when they start closing stores. 
Posted on 11/10/08 at 11:19 pm to Afreaux
Circuit City is horrible.
Posted on 11/10/08 at 11:44 pm to skylane
FRY'S >>>>>>>>>>>>>>> circuit city, BB, even a lot of online vendors.
Posted on 11/11/08 at 8:37 am to ForeLSU
Im just glad they are closing the one on Airline. That place was pathetic. The staff doesnt know a damn thing and the store is always a mess. But of course I walked into the new location and not one employee said a word to me and I was one of the only persons in there. That was strange. I was looking to buy a new Ipod and when nobody said anything I walked out and went to the Apple store.
Posted on 11/11/08 at 12:05 pm to Afreaux
I have been banging the "sky is falling" on retail drum for over a year now.There is Much pain and reorganization ahead, as various segment leaders emerge and the pretenders fall by the wayside...
Posted on 11/11/08 at 12:15 pm to kfizzle85
quote:
On a side note, we as consumers should end up seeing some serious deals when they start closing stores.
The one by me is at 20% now. Rumor is they will add an additional 10% off every Monday (ie, 30%, then 40%, etc.)
I'm thinking about getting a car GPS around 40% or so (assuming there are any left at that point).
Posted on 11/11/08 at 1:12 pm to Cold Cous Cous
Where'd you find out the one by you had that going on?Posted on 11/11/08 at 1:36 pm to kfizzle85
It's all about newegg.com
Posted on 11/11/08 at 2:17 pm to kfizzle85
Announced on the news that all local Circuit City stores were closing within 6 months or so.
Then, coincidentally, the next week they introduce a big 20% off sale everything in the store. They don't call it a "Going out of business" sale, but still.
Then, coincidentally, the next week they introduce a big 20% off sale everything in the store. They don't call it a "Going out of business" sale, but still.
Posted on 11/11/08 at 2:19 pm to Cold Cous Cous
Yeah, I was just wondering where you saw the 20% off announcement. I know they announced that they were closing a bunch of stores last week before they filed for BK, but I had not actually seen an announcement of any deals yet.
Posted on 11/11/08 at 2:23 pm to kfizzle85
We tried to go at 8:00 saturday morning to get the first pick of stuff, but they didn't open until 9:30. Lazy arse circuit city.
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