Circuit City ist kaputt

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RICHMOND, Va., Jan. 16 /PRNewswire-FirstCall/ — Circuit City Stores, Inc. announced today that it will seek Bankruptcy Court approval to begin the process to liquidate the assets of the company.

“We are extremely disappointed by this outcome. 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 with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company,” said James A. Marcum, vice chairman and acting president and chief executive officer for Circuit City Stores, Inc.

Circuit City Stores, Inc. to Liquidate [PRNewsWire.com]

Image: *bri*

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12 Responses to Circuit City ist kaputt

  1. HarshLanguage says:

    The CCs I visited (in few different states) still managed to be worse places to shop than the BBs even *after* BB started their dumb “we dislike customers who just want bargains” corporate stance. CC generally had higher prices, fewer deals, very slow to discount old merchandise, skimpier rewards program, and of course all the experienced sales folks were let go a couple years ago. Unsurprised they didn’t make it after the holidays.

    Of course, I’m not a fan of BBuy either, but deals in the Sunday fliers are sometimes better than online prices.

  2. Milo Minderbender says:

    Mein highdefenitiontelevisionextendedwarranty!

  3. RedShirt77 says:

    I don’t think they should be able to call it a “liquidation sale” if I am not going to save more the $12 on Guitar Hero III.

  4. Anonymous says:

    Always hated them. Service was horrible. Had trouble with warranty coverage repeatedly. Prices were always on the high end. I never shopped there, but had to deal with them due to client’s faulty purchases. Their service department was so bad my client eventually bit the bullet and actually bought a new computer elsewhere rather than having to continue to deal with Circuit City. Issue never did get resolved and the store has been blacklisted for my and my clients since the mid-90′s. Glad to see them go. Sorry for their employees; not all were bad. They just had to follow capitalist corporate rules.

  5. artbot says:

    Yeah, that “clearance” price is quite laughable. Seems the *misunderestimating* of the economy, the electronics retail business, indeed reality itself, that brought them down is still in full effect.

  6. aj says:

    Caveat, caveat emptor on any future “store closing” sale at any soon to be former Circuit City. Once they sell the inventory to a liquidation specialist, the “original” price is jacked up so everything can be marked at 40% off. (This recently happened at Mervyn’s, for example.)

    Don’t buy anything there without comparing to Amazon.

  7. cromulent says:

    Math Fail.

  8. danilo says:

    At a Circuit City board meeting years ago:

    Suit: HAY YOU GUYZ, we could save big money by cutting our experienced, expensive workforce and replacing them with minimum wage teenager idiots.

    At a Circuit City board meeting today:

    Suit: My bad, you guys.

  9. OM says:

    …Well, I supposed it’ll be even less safe to go to McDonald’s or Taco Bell, because all the former CC employees will be working there once again.

  10. Ian70 says:

    maybe Circuit City is bankrupt because of their evident inability to do basic math.

    Jesus.

  11. tp1024 says:

    Your headline ist kaputt. It lacks a second t.

  12. millia says:

    For the record, my CC was very nice, and was a whole lot more friendly than the BB. Honestly, the worst part was trying to find somewhere to check out.

    Some things were priced higher than you’d pay elsewhere, of course; the prices on hard drives and other components were higher than you could typically find. They didn’t revise prices on older Xbox games to account for their newer list prices, so 40% off wasn’t any help.

    Some things, though, were out right bargains; 40% of the almost-never discounted Logitech Squeezebox and Squeezebox Boom. Things like amplifiers, blu-ray players, and some TVs, were better than normal, but not by a huge amount.

    (For the record, the squeezebox boom is fantastic sounding, especially for that price.)

    At least here, though, BB wasn’t cheaper on anything, across the board.

    I just wish I had gotten there about 7 days before the end, when they really started cutting, since the Squeezebox duet was unsold at 40%…

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