Circuit City Gives Up
Jan 16, 2009, 12:07 PM by Eric M. Zeman
Circuit City, which sells mobile phones and other electronics, is going to permanently close its 567 stores and cease operations. The company was in bankruptcy and hoping to find another firm willing to buy it. No suitors emerged. It also couldn't make suitable deals with its creditors. The company is seeking permission to liquidate all its assets. It expects to start the sale tomorrow and will run until March 31, the end of the first quarter.
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Comments
Good for Best Buy... Or is it?
The last 5 to 10 years has seen many large chains dry up around the country. Circuit City is just the latest in a long sad story of a changing world and most likely, they were mismanaged to some degree.
The over-head on these stores is so immense that they just can't compete with places like Fry's Electronics or online retailers of any kind. Circuit City never really had good prices or memorable service and quite frankly, I almost never shopped there. Last year just before CompUSA closed, an employee told me that their monthly rent was $60K alone. I'm sure the operating costs would double that number easily per month which is a staggering number.
Best Buy stands to benefit from these closures in the short term, but they also have huge ...
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The over-head on these stores is so immense that they just can't compete with places like Fry's Electronics or online retailers of any kind. Circuit City never really had good prices or memorable service and quite frankly, I almost never shopped there. Last year just before CompUSA closed, an employee told me that their monthly rent was $60K alone. I'm sure the operating costs would double that number easily per month which is a staggering number.
Best Buy stands to benefit from these closures in the short term, but they also have huge ...
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Its very good for us. One less loser to deal with. We have some overhead but its not nearly the same as Circuit City or Best Buy and we have a huge extended aisle on RadioShack.com.
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Your a good consumer, I always check ebay & amazon before buying something locally, and far, far more often the things I buy like DVD, Blu-Ray's, microsd cards, are considerably cheaper than local retailers, including Wal-Mart.
Plus there's...
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Plus there's...
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They have to compete with other stores like Walmart, Target, Office Depot, and Staples that not only carry other products but also have lower prices a lot of times.
Circuit City was competition, but not very good competition.
With Circuit City gone, someone else is sure to try to fill the void. And it isn't hard to imagine someone who will do better.
With Circuit City gone, someone else is sure to try to fill the void. And it isn't hard to imagine someone who will do better.
Happy Day!
They were a crappy store anyways. No one shopped there whenever I went in. If you ain't walmart then your not working for me.. Low low low prices. What? Say Who? Low prices! Always, Walmart!! Hahaha đ
Love products of incest
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34,000 people just lost their job, and a major competitor to Best Buy and Walmart just tanked...more room for both of them to raise prices (eventually) Circuit City was run terribly the last 10-15 years, but the demise of that many jobs is nothing to...
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OP is a moron. 34k people out of jobs, at least triple that number and you'll have a more accurate idea of who will be devastated by this.
BTW, don't shop at Walmart. I know it is hard given their discounts but they are going to run this country ...
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BTW, don't shop at Walmart. I know it is hard given their discounts but they are going to run this country ...
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Americanstud1987 said:...
They were a crappy store anyways. No one shopped there whenever I went in. If you ain't walmart then your not working for me.. Low low low prices. What? Say Who? Low prices! Always, Walmart!! Hahaha đ
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Good
Because they suck and have some of the worst customer service there. I ordered a keyboard from them to pick up in the store, which they said they had instock, only to get there and my order was not ready. Turns out they didn't have it and tried to switch it out with a cheap crappy keyboard.
We already had one store close by us and the deals were crap. I found cheaper prices at amazon.com and walmart.
We already had one store close by us and the deals were crap. I found cheaper prices at amazon.com and walmart.
Of course you would find a better deal at Walmart! It's Walmart!
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It's like some of you have no clue what a trade balance is. Did you ever get your GED? I mean my god đ Americans are willing to screw the nation over by saving a few cents at a terrible store like walmart, one which is a leach on the back of the...
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Good: bad business decisions are punished
This is the beauty of American capitalism. There is nothing bad about Smart Tech going out of business. It's to be celebrated. Actions have consequences!
I used to occasionally shop at Circuit City with their sales until their fiasco where they decided to fire a good portion of their hourly workforce and let them re-apply for their current positions at lower wages. Even when they had a good sale on so...
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watch out
this has already happened to stores around me the thing is they raised the price of everything then discounted it so they still get the same as before i went to staples and best buy and found what i was looking for cheaper then circuit city and they wonder why they are closing
Ive kinda noticed that too. Maybe things will be different this time. Im goin to wait til end of Feb. maybe early March, and see if I cant pick up a really cheap LCD TV or maybe a stereo for my car. Still, that does suck for the employees of Circut Ci...
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CompUSA did that with their phones. Their "going out of business" price on phones was full MSRP less 10% or 15%. Yay, an AT&T-locked RAZR for a mere $275!
A lot of people do not realize is that when a business liquidates, the liquidation discounts are off an MSRP (manufacturer suggested retail price) and not off a sale price in effect at a time of announcement of liquidation or store closing.
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More job losses
30,000 people are losing their jobs over this, why some people would be happy about that is, well, sad âšī¸
While the loss of any job is not a good thing by itself in todays economic times, a bad business formula and consumers themselves put those people out of work.
No reason to pay more for items people knew they could get cheaper everywhere. No reaso...
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No reason to pay more for items people knew they could get cheaper everywhere. No reaso...
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I was offered a Job
As an ASM in March of 2007 and i turned it down, the money was great. i am happy i said no!!!
dose anyone know if they will get sum kind of comp package based on how long they been there or anything i feel for thez guy/girls im right there with them though(only not working for circuit city)
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Circuit City Canada
From the CNN article:
"Circuit City also operates about 765 retail stores and dealer outlets in Canada. The company said its Canadian operations, which employ 3,000 workers, will continue to operate."
Thats good news for Canadian workers BUT if you do the math thats less than 4 people work at each store??
Are Canadas CC a lot smaller than here in the US??
"Circuit City also operates about 765 retail stores and dealer outlets in Canada. The company said its Canadian operations, which employ 3,000 workers, will continue to operate."
Thats good news for Canadian workers BUT if you do the math thats less than 4 people work at each store??
Are Canadas CC a lot smaller than here in the US??
Jrockemsockem said:...
From the CNN article:
"Circuit City also operates about 765 retail stores and dealer outlets in Canada. The company said its Canadian operations, which employ 3,000 workers, will continue to operate."
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Like the OP said, but worded differently, the 765 includes the Circuit City stores and the dealers. Circuit City does not directly employ the dealers, so the actual number of company owned stores is much smaller.
From what i've read elsewhere, the Canadian ones used to be Radio Shacks, but were changed to "The Source by Circuit City."
So yeah, much smaller then the American ones.
Still though, I think other replies might be right about not employing peop...
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So yeah, much smaller then the American ones.
Still though, I think other replies might be right about not employing peop...
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