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Author Topic: Circuit City to close all stores, liquidate. They're done.  (Read 5289 times)

Manedwolf

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Circuit City to close all stores, liquidate. They're done.
« on: January 16, 2009, 01:09:18 PM »
Stupid thing is...THEY JUST OPENED NEW ONES HERE. While in bankruptcy.

Oh well, more abandoned purpose-built stores.

Quote
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.

http://www.breitbart.com/article.php?id=D95OBUM00&show_article=1&catnum=0
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Kwelz

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #1 on: January 16, 2009, 01:11:28 PM »
Yeah.  Who didn't see this coming?
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makattak

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #2 on: January 16, 2009, 01:15:48 PM »
Quote from: Kwelz on January 16, 2009, 01:11:28 PM
Yeah.  Who didn't see this coming?

I did.

But I'm going to Circuit City tonight to see if there's any sales....


Could use a new DVD player anyway.
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Manedwolf

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #3 on: January 16, 2009, 01:17:39 PM »
Quote from: makattak on January 16, 2009, 01:15:48 PM
I did.

But I'm going to Circuit City tonight to see if there's any sales....


Could use a new DVD player anyway.

The liquidator they brought in is not the sort that does that. I expect you'll find prices actually above retail, and the rest of the stuff will have been redistributed to online retailers like Tiger Direct, which is one of the companies that has signed up to obtain inventory.

Liquidation isn't like it used to be. Most of the stuff seems to just get put online from someone else's storefront until it's cleared out of stock.
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makattak

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #4 on: January 16, 2009, 01:22:25 PM »
Quote from: Manedwolf on January 16, 2009, 01:17:39 PM
The liquidator they brought in is not the sort that does that. I expect you'll find prices actually above retail, and the rest of the stuff will have been redistributed to online retailers like Tiger Direct, which is one of the companies that has signed up to obtain inventory.

Liquidation isn't like it used to be. Most of the stuff seems to just get put online from someone else's storefront until it's cleared out of stock.

Bah!

Stupid efficient economy....
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I wish the Ring had never come to me. I wish none of this had happened.

So do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given to us. There are other forces at work in this world, Frodo, besides the will of evil. Bilbo was meant to find the Ring. In which case, you also were meant to have it. And that is an encouraging thought

anygunanywhere

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #5 on: January 16, 2009, 01:24:01 PM »
Before Christmas they liquidated the store near us that opened three months before the filing. The prices were nowhere near what a liquidation should be. The biggest discounts were 20% and not everything was discounted. i-stuff was regular price. I bought a Zen for 20% off for Santa to give me.

Anygunanywhere
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Manedwolf

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #6 on: January 16, 2009, 01:29:59 PM »
Quote from: makattak on January 16, 2009, 01:22:25 PM
Bah!

Stupid efficient economy....

BTW, I would wait on the DVD player. I think blu-ray players will be under $150 for good ones soon, because people just aren't buying and they're starting to panic. If Sony keeps posting losses, someone's gonna have to fall on a sword otherwise.
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Perd Hapley

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #7 on: January 16, 2009, 01:31:11 PM »
Let me know when they're under forty.
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HankB

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #8 on: January 16, 2009, 01:41:12 PM »
What does this mean for the $200, 5-year service contract for the $49 CD player I bought just before Christmas?  :O




No, I actually didn't buy ANYTHING there in the past couple of years besides a $20 DTV tuner (with a $40 .gov coupon) . . . I haven't been a fanatic about it, but I've been generally avoiding Circuit City since they fired a bunch of people just so they could reduce their pay scale.
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K Frame

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #9 on: January 16, 2009, 03:25:35 PM »
Service contracts are administered by a third party, so they should not be affected.

Chase administers the credit cards, so don't expect relief there, either.
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FTA84

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #10 on: January 16, 2009, 04:12:06 PM »
Yeah I went to the Circuit city near me and everything was the same or above the price at Best Buy despite being "marked down over 40%!!".

All I could think is either
a) They are claiming a false 40% off
or
b) No wonder they went out of businessb
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Manedwolf

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #11 on: January 16, 2009, 04:17:25 PM »
Quote from: FTA84 on January 16, 2009, 04:12:06 PM
Yeah I went to the Circuit city near me and everything was the same or above the price at Best Buy despite being "marked down over 40%!!".

All I could think is either
a) They are claiming a false 40% off
or
b) No wonder they went out of businessb

Sure it's 40% off, of MSRP. The liquidator prices everything.
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FTA84

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #12 on: January 16, 2009, 04:50:35 PM »
All I have to say is, you got to be stupid to buy a big screen TV from a company that has gone under when you can go right next door and buy the same thing for a lesser price. Especially when that other company is not going under (for now).
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Nick1911

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #13 on: January 16, 2009, 04:52:49 PM »
Quote from: FTA84 on January 16, 2009, 04:50:35 PM
All I have to say is, you got to be stupid to buy a big screen TV from a company that has gone under when you can go right next door and buy the same thing for a lesser price. Especially when that other company is not going under (for now).

Why?  Warranty service (while laughable in and upon it's self) is conducted through a third party.
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yesitsloaded

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #14 on: January 16, 2009, 04:58:28 PM »
I've been waiting for this to happen. I think the economy has little to do with it, they were just a poorly run business.
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Thor

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #15 on: January 16, 2009, 05:09:13 PM »
Quote from: Manedwolf on January 16, 2009, 04:17:25 PM
Sure it's 40% off, of MSRP. The liquidator prices everything.

The local CC closed it's doors a couple of months ago. You're exactly right, they say XX% off of MSRP, NOT what was their normal or sale prices. I ventured in just to see if they had any good deals........ I could do better at any of the other electronic stores.
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thebaldguy

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #16 on: January 16, 2009, 05:24:42 PM »
Quote from: Nick1911 on January 16, 2009, 04:52:49 PM
Why?  Warranty service (while laughable in and upon it's self) is conducted through a third party.

This happened to me when Highland Super Stores (remember them?) went out of business back in the early 90's. I had to do a 60 minute road trip across town for service. When I asked for my service plan money back, they laughed and suggested I take a bankrupt company to court.

I laughed back and told them to enjoy being jobless.

I actually liked Circuit City better than Best Buy. Best Buy used "Eminent Domain" to remove homes and businesses to build their new headquarters in Richfield, Minnesota. I have problems giving money to a company like that.

I knew Circuit City was in trouble when they fired all of their floor staff making $10+/hr. The were told they could be rehired at $8/hr. I don't remember the company big shots taking a pay cut.
« Last Edit: January 16, 2009, 05:29:06 PM by thebaldguy »
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Monkeyleg

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #17 on: January 16, 2009, 05:38:51 PM »
I could never find what I wanted at Circuit City or, if I thought I did, none of the sales people could tell me for sure if it was what I wanted. When I was shopping for a new LCD monitor they had a model I was interested in, but nobody could figure out how to connect it to a computer so I could see how it looked. I guess they just expected me to buy it without looking at it.
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K Frame

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #18 on: January 16, 2009, 05:46:48 PM »
I bought my replacement big screen from Circuit City back in October. I didn't know they were in trouble back then, and it was over $200 cheaper there than at Best Buy.
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crt360

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #19 on: January 16, 2009, 06:23:12 PM »
We had one close and a new one open.  The old one they closed was actually better than the new one.  I agree about the liquidation sale prices.  What's amazing is how many people bought stuff at regular price, just because it was marked 20-30% off.  I did find a good deal on some wireless networking stuff and a mouse.
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GigaBuist

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #20 on: January 16, 2009, 11:57:48 PM »
Quote from: Heir to the throne of the great one known as Fistful on January 16, 2009, 04:58:28 PM
I've been waiting for this to happen. I think the economy has little to do with it, they were just a poorly run business.

A poor economy will cull the herd a bit faster than a good one.  The weaker companies die off and the stronger, more efficient, ones gobble up their what little marketshare they did have.

Quote
I knew Circuit City was in trouble when they fired all of their floor staff making $10+/hr. The were told they could be rehired at $8/hr.
Quote
That was a pretty bone-headed move.  I doubt it was the final nail in the coffin but it was a pretty public example of just how bone-headed the yahoos running the joint were.  It's not like their higher paid sales folks got those wages by unionizing or anything.  They were simply paid more because they performed better and had more experience.  You don't get rid of the people that know what they're doing in tough times -- that's just stupid.  To try and actually replace them with new people is even more absurd because now you've got wasted hours on training and such.

I'm sure it looked good on paper for the 1st quarter though.  Sure, you reduced labor by 20%, but you probably increased HR's costs and God only knows what it did to your productivity.
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slingshot

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #21 on: January 17, 2009, 09:46:39 AM »
I hate to see Circuit City go.  However, it is beyond my understanding how all these stores survive.  New shopping malls being developed all the time. The only customers I see are the ones that already go to other stores and so the stores just reduce market share.

Liquidations are not what they used to be.   As far as I'm concerned you can find the same or better prices from regular stores.  I don't bother anymore.
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Perd Hapley

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #22 on: January 19, 2009, 02:25:17 AM »
Quote from: Heir to the throne of the great one known as Fistful on January 16, 2009, 04:58:28 PM
I've been waiting for this to happen. I think the economy has little to do with it, they were just a poorly run business.


I couldn't believe what Michael Savage had to say about that.  "If Circuit City folded, why didn't Best Buy fold, too?  How could one go under, and the other one survive?  I don't understand that." 

I already knew he was a lunatic rage-aholic, posing as a real conservative; I didn't realize that he is also a moron. 
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taurusowner

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #23 on: January 19, 2009, 02:28:07 AM »
Best Buy's total lack of competition now is going to do wonders for prices :(
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Manedwolf

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Re: Circuit City to close all stores, liquidate. They're done.
« Reply #24 on: January 19, 2009, 02:38:23 AM »
Quote from: taurusowner on January 19, 2009, 02:28:07 AM
Best Buy's total lack of competition now is going to do wonders for prices :(

They have to compete with Amazon, lower prices and free shipping.

Amazon's super-database and regional drop ship empire has been taking everyone else's lunch money for years.
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