Reports: Circuit City to close 155 stores

Days after being threatened with delisting from the stock exchange, Circuit City is to shut 155 stores after Christmas, according to tips send to The Consumerist.
This will be officially announced tomorrow at 8am, says our source. A scan we received of a letter distributed to CC employees helps corroborate the story. The tipsters say that store employees were told this morning. No information was provided at that time about severance pay. Employees in certain departments, like car installation, and Firedog, will likely be out of a job within 48 hours.
First CompUSA, now CC. I hope you like Best Buy! The liquidators are already in, according to more insider gossips, winding things up. I was going to trot out the old gamer standby for this sort of thing, "Welcome to your Doom!" but it suddenly seemed terribly odd. Surely doom isn't a particularly welcoming thing, even as the greek allusion to predestined fate rather than its modern sense of apocalyptic destruction. Can't we welcome something to something nice, for a change? Then again, "Welcome to your puppies" doesn't have quite the same ring to it. UPDATED: Breaking: Circuit City Closing 155 Stores [Consumerist]

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10 Responses to Reports: Circuit City to close 155 stores

  1. RedShirt77 says:

    CC is a moderately well done store and the loss of competition will be bad for us all in the long run.

    Really sad part(other then the folks out of work) is that this might be the tip of the iceberg. lots of retail outlets are hitting tough time. Dropping fuel costs are helping, but its a trend that will likely change shortly after the election.

    Soon enough shipping products halfway around the world by boat and truck will show a lower margin.

  2. WeightedCompanionCube says:

    I’d worry about the state of the market with one less competitor in it, but we are talking about Circuit City here. My local CCs haven’t been serious competitors to anyone, let alone Buy More… err… I mean Best Buy.

    Let’s see, here’s a good business model:

    – Toss everyone who’s gotten a raise (and presumably experience) and start over with teenagers in every position. Now, car audio had always been a bunch of kids with brain damage from too much bass, but they filled the whole store with them.

    – Cut your selection of media. Really cut it. One rack of CDs and DVDs should be enough. Never carry new games. If by some chance you are mistakenly shipped new releases, keep two copies on a tiny shelf behind the pick-up counter, and refuse to acknowledge the existence of said items, even when a customer points at them.

    – Don’t annoy the customer by offering to help them. Make them chase you and interupt your impromptu social huddle. Follow the customer for 20 feet, then shrug and walk away while they are still talking.

    – What’s a firedog? What does it do?

  3. dimmer says:

    Not quite related, but Meryvns (sp?) is also going out of beeswax. Not good times anywhere.

  4. Katybeth says:

    Comment #2 really says everything I came to say but to embellish a bit…perhaps its not the economy but really poor customer service. Its a lot of work to shop a Circuit City—first you have to find what you are looking for amist the disorganization, next you have to track down an employee willing and able to help you, and then if you dare to buy you will wait in a line of three with one cash register and a checker that can seem to match the price on the item to the computer price.
    The employees at my Circuit City would not out of work since they never came to work. Best Buy employees, managers, and corporate are you paying attention? And NO I do not want your service plan for the 10th time.

  5. Marley9 says:

    Only one thing to add after the above tomes.

    Good effing riddance.

  6. Scuba SM says:

    The only thing I ever liked about Circuit City is you could get new PC games for $10 off retail. Sometimes you had to wait a few days, but most other big stores would match the price listed in the CC ad paper. Of course, they had to go and ruin that with Fallout 3, offering a $10 gift card that could not be used on that purchase. Considering I don’t buy anything else from them, ever, I took that last paltry slice of business elsewhere. I will miss getting relatively cheap games though.

  7. JuliANSR says:

    too late, mine’s already no longer a valid phone number.

    now where is the fire sale?

  8. skramble says:

    So they are closing 155 stores. Does anyone know how many stores that leaves afterwards? What’s the net total?

  9. Logotu says:

    The only surprise is that it has taken this long.

  10. RyanH says:

    It’s going to be interesting to see what the fallout from this will be on other brick and mortar stores. All the stores are already expecting a drop in business this Christmas season due to the credit crunch. What will happen if a significant number of the remaining shoppers get their Christmas electronics at closing sales like this one?

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