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Circuit City to Liquidate Remaining US Stores

submitted on January 16, 2009 by phunkeey in "Stores / Merchants"
Bankrupt Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, said Friday it failed to find a buyer and will liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed.

"This is the only possible path for our company," James A. Marcum, acting chief executive, said in a statement. "We are extremely disappointed by this outcome."

The company had been seeking a buyer or a deal to refinance its debt, but the hobbled credit market and consumer worries proved insurmountable.

  • 14674
    Posted by MikeG on January 16, 2009 [reply] 0 0
    I was never a huge fan of CC, but will be sad to see them go.
  • 14680
    Posted by MikeG on January 16, 2009 [reply] 0 0
    The Circuit City website down now too.
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    Posted by steve_05 on January 16, 2009 [reply] 0 0
    "The company said the sale would begin Saturday and run until March 31, pending court approval"
  • 14682
    Posted by phunkeey on January 16, 2009 [reply] 0 0
    "The company said it will redeem its gift cards through the liquidation sale, but the cards will have no value once the stores are closed."
  • 14703
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    Posted by steve_05 on January 17, 2009 [reply] 0 0
    They officially announced it.
  • 14756
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    Posted by Solstice on January 17, 2009
    [reply] 0 1
    I went out today to pick the bones of the carcass once known as Circuit City, and I have some info.

    Everything is at least 10% off.
    20% Off ~ DVDs & CDs
    20% Off ~ Some Computer Accessories
    30% Off ~ Entertainment Component Cables

    Its only a partial list, but I was only there for about 10min to grab a few select things.
  • 14920
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    Posted by MrCheap on January 20, 2009 [reply] 0 0
    This guy compared prices on TV's at the store and on and made some interesting conclusions

    The HD Guru priced five HDTVs at its closeout store in Massapequa, NY. Comparing the original and 10% off closeout prices with prices listed at revealed the “current” pre-closeout price written on the price tags was actually $200 to $400 higher than the “real” current selling price of all five HDTVs at . After the 10% off closeout price is taken into account, 3 out of 5 HDTVs remained $60-$100 more than the same item at Circuit City’s website!

    Wonder if this is why the site was shut down. So stupid. I needed to use their store locater last Saturday and couldn't

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