Print 73 comment(s) - last by JonnyDough.. on Nov 5 at 7:42 PM

Circuit City to close 20% of its stores by year's end.

DailyTech reported in late October that Circuit City was on the brink of closing 150 stores and slashing more jobs. Circuit City's stock price has dropped over 90% since the start of the year and this past Thursday, the company was warned that it could be booted from the New York Stock Exchange.

It appears that that closing time is finally arriving for what's left of Circuit City's nationwide chain. The Consumerist reported today that Circuit City plans to close 155 of its 711 stores nationwide.

According to sources close to the company, employees of the affected stores were told this morning about the closings. The store closings will be effective 12/31/2008 and according to at least one report, Firedog and car installation employees will likely be fired within 48 hours.

As for what will happen to the closing stores, The Consumerist provided this commentary from an insider:

A team of liquidators will be coming in and taking control of the store. They will set prices as they see fit, and price match guarantee, employee discounts, CC circulars, and the new one price guarantee are all out the window. The price you see is the price you will pay, although it ought to be at a bit of a discount. Firedog services as well as car audio installation are gone immediately. Returns and warranties have to be taken to a CC that's not closing. No new stock will be delivered, we just gotta crank away and sell off everything, and when it's sold, we hit the road.

For more information about the layoffs including a letter sent to affected Circuit City store, you can head over to The Consumerist.

Updated 11/3/2008
Circuit City today officially announced its plans to close 155 stores which are located in 55 markets across the United States. The 155 stores being closed accounted for $1.4 billion USD in sales for fiscal 2008 according to a statement released by the company.

You can view the full corporate press release here along with a full list of all 155 closing stores here [PDF].

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RE: Hrm...
By Joz on 11/3/2008 1:16:15 PM , Rating: 0
You obviously haven't been to the Microcenter off of 100 in Minnesota.

That place is loaded with pompus, arrogant, egomaniacs that seem to think everyone is a techno-idiot, including me. Now, I've been going to that Microcenter for several years becouse they often have a huge pile of clerance items (CM 500W for $10, OCZ Vanquisher for $5, 2x1GB Kingston for $11, etc...) I can say with resonable certianty that I go there once every month, 16GB Flash Drive for $29, thank you. But recently, they started treating me like I was the average american consumer sheep moron. They re-aranged the store so I asked one of the employees (that I had worked with once before to get a cheap ass ESC 945 into stock with some of those $5 120mm Antecs, and all I wanted to know this time was were they had moved the PSU shelves to (all the way across the BYOPC area, into a "back" room I found out, and when I picked out the TT 430W $13 after MIR he started giving me all sorts of grief about how I should get this other Antec or Cosair unit (3-4x the price,) and then he tried to put his god-dammned sticker on it. I NEVER let them put their sticker on it, and then when I turned my attention to this nerd chick with a nice rack he "subtly" tried to stick the sticker on agian. GOOD GOD. (Yes I am ranting in this post.) So after grabbing my good friend, the manager, and telling him to fire that old-bastard employee I got a nice chat in with the chick (she was several degrees of hot with nice legs and the hole goth-college-girl-geek look, hot I guess is an understatement. So we chatted,, got her number and ->I<- helped her pick out a few things for her younger brother, (nice kid, was addicted to the unreal turnament demo in the gaming section,) I finaly got to the front and the cash register and behold, 10 people in line, one register open, and 3 of those 10 people in line had full carts... 1 register was open, 1. Now the only reason I did/go to microcenter was for clerance and good rebate sales; and the fact that im impaitent lazy bastard that doesnt want to wait for newegg's ups delivery. So there you have it. Avoid all microcenters in Minnesota, avoid them like its a god-dammned super army of cyborg bears with penguins and machine guns on top with a legion of flying cat-snipers and flying squirll kamakzies with mother-fucking mini-nukes!

/Start Jozscript v9.014621.226 Death-To-All-Infidels Version/
/Ending Rant.exe/
/Unloading Sanity.dll/
/Error Uloading Sanity.dll, Sanity.dll is not currently loaded/
/Loading Insanity.dll/
/Error Loading Insanity.dll, Insanity.dll is already loaded./
/Pickup Rocket-Launcher.GIF/
/Load GPS.exe; findget "Microcenter, Minnesota"
/Open BigRedJeep.GIF/
/Run BigRedJeep.GIF/
/Load MicroCenter.GIF/
/Load Rocket.GIF : Rocket-Launcher.GIF/
/Start Rocket-Launcher.GIF/
/Move Rocket.GIF : Microcenter.GIF/
/Drive Home.RAR(Locked)/
/Unable to Drive Home.RAR(Locked); Cops.exe at Home.RAR(Locked)/
/Drive US/Border/Canada/
/Drive Canada/Winnipeg/
/Load Cache-of-Guns.ZIP/
/Unpack Cache-of-Guns.ZIP/
/Load NewLife.DLL/

RE: Hrm...
By ebakke on 11/3/2008 1:41:55 PM , Rating: 2
Good lord man, find a place to release your stress/anger.

BTW, I agree that Minnesota's Microcenter blows.

RE: Hrm...
By Joz on 11/3/2008 2:34:33 PM , Rating: 2
can't I release it with a rocker launcher, Red Faction style?

RE: Hrm...
By ExarKun333 on 11/3/2008 6:12:29 PM , Rating: 2
I live in the Twin Cities and I agree that the Microcenter here sucks; but think about this. Would you rather have good products you can get right away (if your cpu fan breaks, and you don't have as spare, do you want to have to order one from Newegg or just run to the store)? Also, I would prefer to have good products at a decent price with sub-par service vs. crappy products/prices with a great staff. Let me shop and find what I need, pay for the stuff, and get the hell out...that's all I need.

"Death Is Very Likely The Single Best Invention Of Life" -- Steve Jobs

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