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Circuit City to liquidate remaining US stores
AP ^ | January 16, 2009 | Vinee Tong

Posted on 01/16/2009 8:02:28 AM PST by re_tail20

Circuit City Stores Inc. says it has reached an agreement with liquidators to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; US: Virginia
KEYWORDS: bankruptcy; circuit; circuitcity; electronics; retail
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1 posted on 01/16/2009 8:02:28 AM PST by re_tail20
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To: re_tail20

One of the first retailers to go under, but not the last.


2 posted on 01/16/2009 8:05:25 AM PST by Citizen Blade ("A Conservative Government is an organized hypocrisy" -Benjamin Disraeli)
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To: re_tail20

Use those gift cards.


3 posted on 01/16/2009 8:05:36 AM PST by Senator Goldwater
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To: re_tail20

Didn’t like them; only shopped there once or twice.

Auf Wiedersehen.


4 posted on 01/16/2009 8:05:49 AM PST by henkster (When I was young I was told anyone could be President. Now I believe it.)
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To: re_tail20

Bah, anything worthwhile gets snapped up by employees before the sale starts and by the time it’s a real discount(50% or better), you might find a bracket for a 1987 RCA black and white TV and some 500 foot lengths of coaxial cable.


5 posted on 01/16/2009 8:06:27 AM PST by Malsua
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To: re_tail20
It's always sad whenever a major retailer goes out of business.

I guess they just couldn't compete with Best Buy, and people only need so many big box stores around.

6 posted on 01/16/2009 8:06:33 AM PST by jpl (Episode 44: A New Dope - coming soon to a country near you.)
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To: re_tail20

Now where will I go to get harassed by teenage sales people who no nothing about what they’re selling?


7 posted on 01/16/2009 8:08:18 AM PST by WackySam (Is the world is being run by smart people who are putting us on- or by imbeciles who really mean it?)
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On a related note...

http://www.theonion.com/content/news/even_ceo_cant_figure_out_how


8 posted on 01/16/2009 8:08:45 AM PST by villagerjoel ("Gun control is a prerequisite for genocide." - Unknown)
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To: villagerjoel

bttt


9 posted on 01/16/2009 8:09:04 AM PST by ConservativeMan55
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To: Citizen Blade
OH NO!!!

First our year-old Office Depot started liquidating last month and now this?!?

All we'll have left is our wretchedly useless Staples store, now!

10 posted on 01/16/2009 8:09:17 AM PST by Salamander ( Cursed with Second Sight.)
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To: jpl

CC was doomed when Best Buy came onto the scene. We filled our first house with quality, affordable appliances from CC. Been in one lately?


11 posted on 01/16/2009 8:09:31 AM PST by tgusa (Gun control: deep breath, sight alignment, squeeze the trigger ....)
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To: Senator Goldwater

No gift card, but I’ll take advantage of deals.

As bad as it sounds, this is how every company in the US should be. They should not ever receive federal funding.


12 posted on 01/16/2009 8:10:42 AM PST by wastedyears (In Canada, Santa says "Ho Ho, eh?")
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To: WackySam
"Now where will I go to get harassed by teenage sales people who no nothing about what they’re selling?

Best Buy is a reasonable substitute.

13 posted on 01/16/2009 8:12:00 AM PST by jimmyray
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To: WackySam
Now where will I go to get harassed by teenage sales people who no nothing about what they’re selling?

Best Buy

14 posted on 01/16/2009 8:12:41 AM PST by politicket (Barack Obama - "Chains we can believe in")
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To: WackySam
by teenage sales people who no nothing

Knowwhere I no of. :-)

j/k

15 posted on 01/16/2009 8:13:03 AM PST by Larry Lucido (I was predestined to be an Arminian but am considering choosing Calvinism.)
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To: villagerjoel

What a horse’s butt to make those comments.


16 posted on 01/16/2009 8:13:13 AM PST by wastedyears (In Canada, Santa says "Ho Ho, eh?")
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To: re_tail20

That sucks. Though I normally shopped Best Buy, they had some good deals at times that brought me in.


17 posted on 01/16/2009 8:13:21 AM PST by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: Salamander
All we'll have left is our wretchedly useless Staples store, now!

My Office buys all their supplies from Staples. When you go to the supply cabinet to get something, you can't find it because EVERY box is labeled STAPLES!
18 posted on 01/16/2009 8:13:43 AM PST by GoldMan (Never try to rationalize an irrational mind............)
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To: tgusa

I bought a digital camera there and was disappointed when the memory card advertised on the display (and box) wasn’t in there.

The manager said just because it was advertised doesn’t mean its actually in there.

Good riddance, maybe this will help Compusa get stronger


19 posted on 01/16/2009 8:13:45 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: re_tail20

I’m not surprised. Circuit City couldn’t compete against the likes of Best Buy, let alone Wal-Mart and Costco!


20 posted on 01/16/2009 8:13:47 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: WackySam
Now where will I go to get harassed by teenage sales people who no nothing about what they’re selling?

ACORN?

21 posted on 01/16/2009 8:14:08 AM PST by IYAS9YAS (Hey Obama, why lawyer up when you can pony up? Show us your vault copy BC)
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To: Malsua; All

They jack the prices up before they sell anyway.

So, the “sale” prices really aren’t a sale at all until the discount becomes supposedly 50 percent or more.

In reality, it is more like 25 percent.

Linens and Things pulled that.


22 posted on 01/16/2009 8:14:32 AM PST by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: politicket

Maybe now’s the time to finally get that great reel to reel unit...


23 posted on 01/16/2009 8:15:12 AM PST by Eric in the Ozarks
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To: tgusa

I guess CC firing their best employees awhile back had nothing to do with it.


24 posted on 01/16/2009 8:15:22 AM PST by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: jpl
I guess they just couldn't compete with Best Buy

Ya, you're probably right. But, it is irritating that Best Buy has such a monopoly on this market. The malls are dying, but it's still hard to find a parking spot at Best Buy. They need the competition! As it is, their service is mediocre and their prices are non-competitive. I think Best Buy has simply become a habit with consumers. We did not have a Circuit City within easy driving range so I'm unfamiliar with them, but one would think that with the huge increase in the use of technology and technological gadgets more than one successful retailer would emerge in this specialty! Especially one that emphasized customer service and tech support.

25 posted on 01/16/2009 8:15:32 AM PST by PLK
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To: WackySam

I don’t know-probably 90% of the retail stores in this country.


26 posted on 01/16/2009 8:15:41 AM PST by mrmargaritaville
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To: tgusa

The Best Buy and HH Gregg in North Randall have been gone for quite a while. Couldn’t compete, and when the neighborhood changed completely? In my little suburban town, we have a Lowe’s and a Home Depot within 1/2 mile of each other.


27 posted on 01/16/2009 8:15:43 AM PST by Dr. Bogus Pachysandra ("Don't touch that thing! I'm a doctor, and I won't touch that thing!)
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To: re_tail20

Darn. I hate CC, but there’s one five minutes from the house and the nearest Best Buy is at least thirty minutes away.


28 posted on 01/16/2009 8:16:38 AM PST by JenB
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To: tgusa
CC was doomed when Best Buy came onto the scene.

Isn't Best Buy also on the skids?

It seems every 5 or so years all the big box electronics stores (i.e. The Wiz) go under, only to be replace by a similar cookie cutter stores later

29 posted on 01/16/2009 8:17:13 AM PST by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: re_tail20

The Circuit City in my town has almost nothing but TV’s. How many TV’s can you possibly sell.
And several years ago I got screwed on a rebate deal by Circuit City and I’ve never been back. Good riddance.


30 posted on 01/16/2009 8:17:43 AM PST by caver (Yes, I did crawl out of a hole in the ground.)
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To: henkster

Agree.....went there once to compare shop and employees were rude, not knowledgeable of the products they were selling and more willing to try and BS the knowledgeable buyer than any place I had ever visited.

All such dishonest crap merchandisers hopefully will follow circuit cities path to failure. Sell a quality product, stand behind the product, be honest, make a fair profit, etc ........CC did none of this !

Buh Bye !


31 posted on 01/16/2009 8:17:58 AM PST by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: re_tail20; Las Vegas Dave

Good time to buy that HD TV?


32 posted on 01/16/2009 8:18:06 AM PST by Incorrigible (If I lead, follow me; If I pause, push me; If I retreat, kill me.)
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To: villagerjoel

RFLMAO!!!! That is so true. There’s a RadioShack next to the grocery store I go to all the time and everytime I pass it I wonder how that whole corporation stays in business! There’s just so many batteries and cheap dvd players you can sell!


33 posted on 01/16/2009 8:18:27 AM PST by Hildy
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To: villagerjoel

I shop at Radio Shack because I became interested in science (I am an engineer) from getting one of those 200-in-1 science kits at about age 8 or so.

Made a radio, like-sensitive alarm to keep the sisters out, morse code, ran telephone wires all over the house.

The instictual knowledge of basic electricity and circitry I gained served me well througout my life.

Indeed, I was sitting on a top drive drilling rig in NIGERIA with nary an electrician on site when the drive engine went dead, but the diesels were still running.

We would have been down for days, except I (a drilling engineer and geologist, not EE) could read the wiring diagram, figured out where the problem was a re-routed the power through a piece of idle equipment that could step-up the power.

Didn’t learn it at school. Learned in on Sunday afternoons, playing with my Radio Shack 200-in-1 electronics kits.


34 posted on 01/16/2009 8:19:17 AM PST by MeanWestTexan (Beware Obama's Reichstag fire.)
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To: Citizen Blade

CC was on their way to going under anyway. Their big “who needs expensive (aka experienced and skilled) sales people” move a few years ago put them on the death spiral. The most the economy did was hasten their end by a year or two.


35 posted on 01/16/2009 8:19:33 AM PST by dilvish
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To: re_tail20

A new shopping complex is about half way built in a city close to where I live. It will include a Target and a Best Buy from what I’ve seen so far. There were workers there last weekend when I drove by, but I’m wondering if it will ever get finished or if the stores will even open. Bad timing on their part to be opening new stores.


36 posted on 01/16/2009 8:20:42 AM PST by OB1kNOb (Four days until America as we know it will irrevocably CHANGE for the worse.)
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To: Moonman62
I agree 100%.

CC price matched anyway, so they were the same on merchandise as everyone else. We have CC and BB in our area - six of one, half dozen of another. Difference was management. CC made very poor management decisions culminating in getting rid of their most knowledgeable employees for strictly financial reasons. Fired people making maybe $15 - $20 dollars per hour and replaced them with part time minimum wage people. What differenciates these big box stores (since they all price match anyway) is service and knowledge from their employees.

37 posted on 01/16/2009 8:21:00 AM PST by american colleen
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To: re_tail20

That’s ashame - I always liked Circus City better than Worst Buy.


38 posted on 01/16/2009 8:21:05 AM PST by Mannaggia l'America
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To: re_tail20

Funny. I used to have WorldCom for long distance. After a series of bills with bogus charges, and countless mailings with countless different misspellings of my name, I cancelled—after demanding they straighten out the bogus charges.

I haven’t set foot in Circuit City in ten years, after noticing high prices and lousy selection.

And they both go under. I never felt so powerful.


39 posted on 01/16/2009 8:21:41 AM PST by Arthur McGowan
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To: villagerjoel

good grief, they let this guy run them? I happen to like Radio Shack.

they are closer, they know what they are doing and are good for the replacement, secondary/accesory market. i haven’t bought a bigticket item there but when i do buy one, I usually have to visit a Radio Shack to pick up what I need to support an original purchase.

As for CC, I bought a lot from them 10-15 years ago. They were fine then, don’t knw what happened.


40 posted on 01/16/2009 8:21:46 AM PST by SueRae
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To: villagerjoel

good grief, they let this guy run them? I happen to like Radio Shack.

they are closer, they know what they are doing and are good for the replacement, secondary/accesory market. i haven’t bought a bigticket item there but when i do buy one, I usually have to visit a Radio Shack to pick up what I need to support an original purchase.

As for CC, I bought a lot from them 10-15 years ago. They were fine then, don’t knw what happened.


41 posted on 01/16/2009 8:21:48 AM PST by SueRae
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To: re_tail20

Apple can get me an ipod, have it custom e-ngraved and shipped to me within 48 hours, and Circuit City can’t send me an off-the-shelf digital camera in under 2 weeks. WTF?

I still liked my local CC way better than best buy, though.


42 posted on 01/16/2009 8:22:35 AM PST by Travis T. OJustice (Change is not a destination, just as hope is not a strategy.)
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To: villagerjoel
On a related note... http://www.theonion.com/content/news/even_ceo_cant_figure_out_how

I love the Onion. That article capture Radio Shack exactly. I visit there maybe once every 2 or 3 years and I have a technical background. I don't know how they stay in business either. Who do they sell that stuff to??

43 posted on 01/16/2009 8:23:13 AM PST by DouglasKC
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To: driftdiver
Good riddance, maybe this will help Compusa get stronger

Uh, they're dead too Jim.

44 posted on 01/16/2009 8:25:11 AM PST by unixfox (The 13th Amendment Abolished Slavery, The 16th Amendment Reinstated It !)
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To: re_tail20

The company my wife works for used to supply a large amount of items that Circuit City stores used in their showrooms for display purposes (cables, assemblies, etc...). They have many hundreds of thousands of dollars in inventory now that they’ll have a hard time selling to anyone else.. on top of what Circuit City owed them... :(


45 posted on 01/16/2009 8:27:13 AM PST by Dubya-M-Dees (Gun clingin' God Fearin' pissed off redneck.)
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To: wastedyears

The CC a mile from my houe closed in December . Their “up to 50% off sale” had items that were STILl more expensive than directly comparable items at the Best Buy across the parking lot. There will be few deals at their liquidation sale if it is conducted anything like the liquidation sale (Everything must go! Store fixtures included!)that this store went through whe nit closed half a dozen Chicagoland stores last month.

If you do go into a Circuit sh**ty go to Best Buy abefore you buy at CC nd make sure you can’t ge the same stuff for less. Hopefully CC’s liquidators will price their stuff BELOW that of stores who will remain ni business and have recourse with.

—PP

—PP


46 posted on 01/16/2009 8:29:15 AM PST by VideoPaul
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To: jimmyray

Best Buy has very high prices...


47 posted on 01/16/2009 8:29:26 AM PST by Bunkasaurus (I'm indecisive....or am I?)
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To: Mannaggia l'America

I do my electronic shopping primarily at newegg.com. I just bought a new 19” for $139 with free shipping. The last I looked they were 150 at CC.


48 posted on 01/16/2009 8:30:26 AM PST by LuxMaker (The Constitution is a mere thing of wax in the hands of the judiciary, Thomas J 1819)
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To: Malsua

Yep! And Wal-Mart picked up a lot of the flat screens they had on sale during Christmas from Circuit City.


49 posted on 01/16/2009 8:31:04 AM PST by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: re_tail20
Sorry to see them go. They, like most retailers, have their faults but have purchased numerous items from them in the last decade and have had 0 serious problems. When I've shopped for computers and TV's I always seem to make the decision to by from CC. They have had the product I've wanted at the right price. When an item goes on sale, even at a competitor, at a lower price after I've made my purchase they always have honored their price guarantee.

I will miss them.

50 posted on 01/16/2009 8:31:05 AM PST by TruthWillWin
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