backtop


Print 124 comment(s) - last by jtdwab.. on Jan 22 at 3:50 PM


Best Buy will be the only game in town for many customers. Circuit City was second to Best Buy in the retail consumer electronics market.  (Source: AdRants)
Best Buy shall rule the land when it comes to retail electronics in the U.S.

It’s been a tough road for Circuit City. The retail electronics giant has been pummeled over the years by the likes of Best Buy and Walmart, and has been unable to turn its operations around due to the current state of the economy.

In early November, the company announced plans to close 155 stores in the United States. The stores combined accounted for $1.4 billion USD in sales for fiscal year 2008.

Just a week later, Circuit City filed for Chapter 11 bankruptcy protection -- the filing showed that the company has $2.2 billion USD in debt and $3.4 billion USD in assets. The news got even bleaker today as Circuit City's CEO announced that the company failed to find a buyer and that it could not refinance its debt.

As a result, Circuit City will liquidate all of its remaining stores. The liquidators lined up to sell off the merchandise from the remaining 567 stores include Great American Group, Hudson Capital, SB Capital Group and Tiger Capital.

"We are extremely disappointed by this outcome," said Circuit City CEO James A Marcum "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."

In early July, Blockbuster rejected a deal to purchase Circuit City.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: pic
By Totally on 1/16/2009 2:47:28 PM , Rating: 5
yeah, she looks really gross and unintelligent in that picture.


RE: pic
By Lord 666 on 1/16/2009 2:48:59 PM , Rating: 2
Too bad Christina Hendricks never posed in front of a Best Buy sign.


RE: pic
By mkruer on 1/16/2009 2:51:57 PM , Rating: 5
Those don't look like CC's they look like DD's too me.


RE: pic
By FITCamaro on 1/16/2009 3:24:05 PM , Rating: 2
When does she ever look intelligent. She hasn't gotten to where she is with her brains....or her singing for that matter.


RE: pic
By SiliconDoc on 1/17/2009 12:04:31 AM , Rating: 1
That makes you the idiot in my book - she is one of the most talented and can put on a variety of shows from modern grunge to old time 40's style.
She has more talent in her right nipple than you ever dreamed of in front of your Stuart Smalley mirror.


RE: pic
By FITCamaro on 1/17/2009 12:33:17 AM , Rating: 2
I also don't pretend to be a good singer either. I know I suck.


RE: pic
By mattclary on 1/19/2009 8:38:08 AM , Rating: 2
Agreed. One may not care for her style or looks, but she is undeniably talented. I suspect anyone who claims she has no talent has never actually listened to her. Now, on the other hand, without synthesizers to help her out, I don't think Brittany Spears could carry a tune in a bucket.


"This is about the Internet.  Everything on the Internet is encrypted. This is not a BlackBerry-only issue. If they can't deal with the Internet, they should shut it off." -- RIM co-CEO Michael Lazaridis

Related Articles













botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki