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Print 18 comment(s) - last by feba.. on Mar 16 at 3:44 PM

Many locations are reportedly closed already after running out of inventory

The saga of Circuit City trying to save itself from extinction has been rather long and drawn out. The company first tried to sell to Blockbuster, which didn’t work out. The company then said it would close select stores around the country and proceeded to do so.

However, it took little time for the electronics retailer to come back and announce that it was in fact going to be closing all of its locations around the country. The employees were let go and liquidation firms came in to attempt to move the massive inventory left over by the defunct retailer prior to finally closing the doors of all locations.

According to the liquidation firms, the final day for operation of any Circuit City location will be Sunday March 8. Some locations are already shuttered up after running out of inventory to sell. So far, the massive liquidation sale that began in mid-January 2008 has moved $1.7 billion in inventory.

Scott Carpenter from Great American Group said in a statement, "Thanks to record shopper turnout at many of the store locations and the attractive discounts offered on all merchandise, the sales actually went quicker than we expected."

Some locations may be operating throughout the weekend making for the best deals you will find before Circuit City is nothing but a memory.



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Good Riddance
By TomZ on 3/8/2009 1:32:41 PM , Rating: 3
Circuit City was only mediocre when it was at its best. The rest of the time, it was a nightmare. Good riddance!




RE: Good Riddance
By TheEinstein on 3/8/2009 3:49:33 PM , Rating: 2
Some good deals were to be had at the end though, like this new laptop of mine, a Lenovo Y430, 2giga Intel Core dual core proc, 4gigs ram, Windows Vista Home Premium, and a decent video card that runs all my current games except one which hates 90% of graphics cards anyhow.

Yeah I hate the Vista part, but Home Premium seems to lack some of the issues of Home Basic...


RE: Good Riddance
By tastyratz on 3/9/2009 8:52:48 AM , Rating: 2
Agreed.
Nobody actually went there to buy things, they just checked them out in the store before ordering online.

I picked up a few things in the closing sale. Other day I got a logitech force feedback steering wheel for 30 bux. The marked price was 119... and the msrp was 99.95. You could buy the wheel for msrp straight off logitechs site. Who in their right mind stickers things for sale for 20 bux OVER msrp and expects to stay in business???

I guess you could say there is no shocker, and they were really useless as a company. Good riddance is right - I hope something worthwhile takes its place. I would have LOVED to see them sell to FRY's... I would kill to have one of those in my area.


RE: Good Riddance
By Schrag4 on 3/9/2009 9:21:30 AM , Rating: 2
Agreed. And the whole "liquidation sale" was a joke for the most part. There were some good deals but for most items they actually marked them up higher than they were priced before the sale. And I heard that there were no returns and you couldn't open boxes to inspect before you buy. Even on big screen TVs. Who in their right mind would buy something like that under those terms? How did they expect to move everything?


RE: Good Riddance
By gmyx on 3/9/2009 11:07:10 AM , Rating: 2
Many. I remember a few years ago when Eaton's announce they were closing shop. The next morning, people were lining up before opening to get stuff - they had not even started their sale yet! They made a record day of sales that day.

By the time the sales did come by they only had lesser quality stuff left.


RE: Good Riddance
By strikeback03 on 3/9/2009 11:29:25 AM , Rating: 2
A local guy who worked there said the first day of the "liquidation" was like Black Friday, except that they opened at a more sane time. And that was at MSRP-10%.

If I had read this yesterday I might have checked the local one one more time to see if there were actually any good deals.


RE: Good Riddance
By tastyratz on 3/9/2009 11:55:31 AM , Rating: 2
I was actually pretty pissed. I went in yesterday looking for the best deals on the pickins - I was eyeing a 58in plasma that didn't sell as of Friday. I wish I went sat because Sunday sales were fixtures only no product :-( I wish they let people know that beforehand.


RE: Good Riddance
By The0ne on 3/11/2009 8:10:53 PM , Rating: 2
Stores here in San Diego didn't have low prices even after 5 weeks. Reminds me of CompUSA liqiudation, a complete joke. Prices were sky high and they had them tagged as marked downs. Funny as sh*t imo. Only clueless people would buy at these prices.


RE: Good Riddance
By clovell on 3/9/2009 3:07:33 PM , Rating: 4
It was always more of a mixed bag for me between Circuit City and Best Buy. Best Buy is always more enjoyable to walk through and look at stuff, but it was a nightmare to have to deal with returns and service on their warranty plans. That's where Circuit City always did a better job for me - service after the sale.


RE: Good Riddance
By FITCamaro on 3/10/2009 9:29:08 AM , Rating: 2
Yeah hurray! Several thousand people are out of work! Many of which did their best.

Seriously. To cheer a retailer going out of business which puts several thousand people out of work today is down right petty.


RE: Good Riddance
By Regs on 3/13/2009 11:41:22 AM , Rating: 2
Hopefully one day those soldiers will work for more competent generals.

I remember when I got fired once, it make me hungrier for a better job.


Canada
By mmntech on 3/8/2009 10:50:24 AM , Rating: 3
The store is going to continue operating in Canada under "The Source by Circuit City" label. It's been bought out by Bell Canada. It will put a heavier emphasis on Bell's wireless products but will keep selling what it currently does. For those who don't know, The Source is similar to Radio Shack.




RE: Canada
By Flunk on 3/8/2009 1:31:47 PM , Rating: 2
"The Source" used to actually be Radio Shack Canada up until a few years ago when Radio Shack decided that they didn't want to license the name to the operations new owners (Circuit City) any longer.

Bell secretly buying a well known retailer to try to move their inferior wireless products is exactly what I'd expect from them. They don't seem to know the meaning of the word ethical.


RE: Canada
By TomZ on 3/9/2009 8:22:24 AM , Rating: 2
How is that unethical?


RE: Canada
By gmyx on 3/9/2009 11:11:43 AM , Rating: 2
It gets better: The Source sells their competitor products, Star Choice, Videotron (Quebec) and Rogers.

If found it amusing that Bell would buy this company shortly after their own buyout failed and are facing HUGE costs in that. I guess they are looking at another way to provide bad service at high cost

I hate Bell! Never like RadioShack - The Source. Both have bad service and cost alot. Unfortunately, Bell has a monopoly in telephone infrastructure and uses it to suppress others. (i.e. DSL providers being throttled).


RE: Canada
By mmntech on 3/9/2009 1:41:14 PM , Rating: 2
My mom's best friend works for Bell. Yep, they're in a lot of trouble. They were trying to push their older employees into early retirement, including my mom's friend. She's not even 50 yet. Remember they bought all those TV stations last year? Now CTV (owned by Bell) is laying off a whole bunch of people. Of course they're still in better financial shape than Global. oof. Bell's biggest problem is their customer service, or lack there of. Their DSL is trash too.

I usually buy stuff like flash cards and USB keys at The Source because they're the cheapest and I don't have to go out of town. I'd never buy something like a cell phone there though. I'm with Rogers/Fido anyway. Bell doesn't carry the iPhone. Thank god. :p


Sorry toi see Circuit City go ..
By DatabaseMX on 3/12/2009 5:13:13 PM , Rating: 2
In the last 12 years, most of my electronic purchases were done at CC (excluding computers). And in EACH case, the sales people I dealt with were VERY knowledgable about the products I was interested in. And I ask a LOT of questions.

Now, maybe it helps to have an electronics degree with I do, but still ... I always got the information I needed to make decisions.

Most recently circa Dec 2007 ... when I purchased a Sony 40" HDTV at the CC store in Montclair CA ... a kid (~25) named Josh was literally a walking knowledge base on the the products and he was *not* on commission. Everything he told me to the MANY questions I asked turned out to be true. AND ... several months later going back to the store, this guy remembered my full name! This guy was very bright and I'm sure he has found work elsewhere now.

***




good riddence
By feba on 3/16/2009 3:44:43 PM , Rating: 2
When my girlfriend went to bankruptcy court Circuit City was the only creditor to show up to get their 3 three year old TV back (or least it us up for some cash).

Payback is an @itch.
Good riddence




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