Goodbye circuit city!

[rudder]

Breaking news that circuit city is going to liquidate all stores.

They just opened one about 5 minutes from me and I started liking them again and it was a great alterntive to best buy. But that store closed right before christmas. I did get some cheap goodies on the way out and personally kept them afloat for an extra few weeks.

Soon I will be forced to go to walmart for electronics.

 

[takeru]

bye bye circuit city...

http://www.reuters.com/article.../idUSTRE50F1VW20090116

Circuit City to be liquidated: report
Fri Jan 16, 2009 10:50am EST

ATLANTA (Reuters) - Retailer Circuit City Stores will be fully liquidated, the CNBC cable network reported on Friday, citing a source,

Circuit City was due to present the results of an auction for its assets at a hearing in U.S. Bankruptcy Court in Richmond, Virginia, on Friday. It had conducted negotiations with potential bidders to sell the company, but told the court last week it may need to liquidate if no deal was reached.

The company did not immediately respond to a request for comment about the liquidation, but a spokesman said a statement should be issued shortly.

Shares of the bankrupt electronics chain fell 53 percent to 7 cents.

Circuit City filed for Chapter 11 protection in November, citing a deteriorating cash position and tighter terms from vendors. It has liquidated and closed 155 stores, about one-fifth of its U.S. store base.

(Reporting by Karen Jacobs, editing by Dave Zimmerman)

© Thomson Reuters 2009 All rights reserved

Thread merge!

ATOT Moderator ElFenix

 

[rudder]

REPOST!!!!:|

http://forums.anandtech.com/me...id=38&threadid=2267832

LOL, I had you beat by a minute. But I did not post a link and was deducted 45 seconds. So I still have 15 seconds on you!

 

[dougp]

Will Chase still honor the no interest for 36 months on their cards then if I go purchase something now?

 

[zoiks]

Wow. The economy sure killed em.

 

[FelixDeCat]

Im going to buy all the Microsoft products for half price and dump them on Ebay. :light:

 

[duragezic]

Circuity City is my favorite place to buy new PC games. They often had good sales, say $10 off on a new release. I got Crysis for $20 back in May, Mass Effect for $40 ($10 off) at release, $5 off Crysis Warhead, etc. Plus their selection was good. Also decent DVD movie sales.

The selection and prices at Target, Walmart, etc are not as good.

 

[pontifex]

i thought they got some loan or something and they wouldn't be closing?

 

[dmcowen674]

These "liquidations" are a joke.

They don't reduce the prices by jack shit.

 

[Capt Caveman]

Damn.

 

[FelixDeCat]

Originally posted by: Capt Caveman
Damn.

Yeah Im gonna miss them too.

 

[mugs]

That sucks

 

[amdhunter]

Sucks. One of my friends was a district manager at a store here in NYC. He had just bought a supercharger for his 06 Civic Si too. I wonder if he'll get a chance to finish his project now.

So when is the fire sale?

 

[Anubis]

might be time for me to pick up an HDTV if they are letting them go on the cheap

 

[rasczak]

NO! The Ciruit City in our town has been there for as long as I can remember. I'm going to miss that place. Now it's just going to be a big red eyesore.

 

[Injury]

Originally posted by: dmcowen674
These "liquidations" are a joke.

They don't reduce the prices by jack shit.

if you say so.

I scored 5 Xbox 360 games for about $40 total from one of the store closings in December.


But really, what kind of person complains about the prices of a company that is just trying to pay their bills before they shut their doors? Boo-Hoo... the company is going out of business and won't sell shit for ridiculously cheap...

 

[aircooled]

I wasn't a big CC fan, but I hate to see them go away. Competition is always good.
We're starting to see more HH Gregg stores open up though. I haven't been in one yet.

 

[rasczak]

Originally posted by: amdhunter
Sucks. One of my friends was a district manager at a store here in NYC. He had just bought a supercharger for his 06 Civic Si too. I wonder if he'll get a chance to finish his project now.

So when is the fire sale?

you should ask your friend

 

[Capt Caveman]

I liked CC b/c you could usually get new release DVD, CDs and PC games cheaper than everyone else. And another competitor for price-matching. Too bad, they had suck ass management.

 

[ghostman]

Anyone know if CC gift cards will still work? I had $8 lingering on one.

 

[Capt Caveman]

Originally posted by: ghostman
Anyone know if CC gift cards will still work? I had $8 lingering on one.

It should but use it NOW!!!!

 

[Deeko]

That's too bad, I've always liked them better than Best Buy.

 

[nonameo]

CC is alone in our city. There will be nothing now. Really that's not so bad though. No one here can afford it anyway.

 

[amdhunter]

Originally posted by: rasczak

Originally posted by: amdhunter
Sucks. One of my friends was a district manager at a store here in NYC. He had just bought a supercharger for his 06 Civic Si too. I wonder if he'll get a chance to finish his project now.

So when is the fire sale?

you should ask your friend

Funnily enough...it did not occur to me to ask him. I'll hit him on msn tonight.

 

[Steve]

Originally posted by: dmcowen674
These "liquidations" are a joke.

They don't reduce the prices by jack shit.

It'll be CompUSA all over again.