Circuit City
#1
Circuit City
I was wondering does anyone actually miss this company and now they have been gone for a while what are the ramifications if any you have noticed around your way?
Personally hasn't seemed to made much of a difference at all excepting the vacant building where they were is still vacant. There was talk of Walmart looking at these properties. Guess that didn't eventuate?
Personally hasn't seemed to made much of a difference at all excepting the vacant building where they were is still vacant. There was talk of Walmart looking at these properties. Guess that didn't eventuate?
#3
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Re: Circuit City
Good riddance to bad rubbish. They TWICE screwed me over with service plans, I had issues with returns, terrible customer service in store, bad lighting usually (it was dark in every CC I went to), hardly ever good deals. They went out of business with good reason IMHO.
#10
DVD Talk Reviewer & TOAT Winner
Re: Circuit City
Not the least bit sorry to see them gone after being screwed over every which way by their 'service plan' a few years ago. DIVX just further proved what contempt they had for their customers, and everything after that was icing on the cake.
#11
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Re: Circuit City
http://www.google.com/hostednews/ap/...-eNogD985IDA01
Circuit City brand, Web site sold for $14M
By MICHAEL FELBERBAUM – 2 days ago
RICHMOND, Va. (AP) — Bankrupt Circuit City's brand, trademarks and e-commerce business were sold on Wednesday for $14 million to Systemax Inc., the same company that purchased electronics retailer CompUSA's intellectual property when it closed in 2008.
U.S. Bankruptcy Court Judge Kevin R. Huennekens approved the results from an auction that took place Monday. New York-based Systemax also agreed to pay Circuit City at least $3 million from its revenue from the assets over 30 months.
Systemax manufactures and sells consumer electronics online, by direct mail and in retail stores under the TigerDirect and CompUSA brands. When it bought Dallas-based CompUSA's intellectual property in January 2008 from restructuring firm Gordon Brothers Group LLC, it also acquired some stores.
Systemax has said the transaction would "extend its position as a leader in online retailing of value-priced, branded consumer electronics."
Last month, Richmond-based Circuit City entered a so-called stalking horse agreement with Systemax for $6.5 million, which also included a revenue payout over two and a half years. A stalking horse bid is an initial offer for a bankrupt company's assets.
Circuit City lawyer Gregg Galardi said three other companies participated in Monday's auction, including PC Connection, PC Mall and Ultimate Acquisition Partners, the operating company for the retail chain Ultimate Electronics. The owner of Ultimate Electronics, Mark J. Wattles, tried in a proxy battle last year to place several nominees, including current Circuit City CEO Jim Marcum, on Circuit City's board.
Circuit City closed its 567 remaining U.S. stores on March 8. It has laid off about 34,000 workers since filing for Chapter 11 bankruptcy court protection in November. A small staff remains at its corporate office.
The company, which posted losses in seven of its final eight quarters, faced heightened competition, pressure from vendors and waning consumer spending. It had hoped to emerge this summer as a stronger and more competitive company, but the hobbled credit market and consumer spending cuts proved insurmountable.
Circuit City brand, Web site sold for $14M
By MICHAEL FELBERBAUM – 2 days ago
RICHMOND, Va. (AP) — Bankrupt Circuit City's brand, trademarks and e-commerce business were sold on Wednesday for $14 million to Systemax Inc., the same company that purchased electronics retailer CompUSA's intellectual property when it closed in 2008.
U.S. Bankruptcy Court Judge Kevin R. Huennekens approved the results from an auction that took place Monday. New York-based Systemax also agreed to pay Circuit City at least $3 million from its revenue from the assets over 30 months.
Systemax manufactures and sells consumer electronics online, by direct mail and in retail stores under the TigerDirect and CompUSA brands. When it bought Dallas-based CompUSA's intellectual property in January 2008 from restructuring firm Gordon Brothers Group LLC, it also acquired some stores.
Systemax has said the transaction would "extend its position as a leader in online retailing of value-priced, branded consumer electronics."
Last month, Richmond-based Circuit City entered a so-called stalking horse agreement with Systemax for $6.5 million, which also included a revenue payout over two and a half years. A stalking horse bid is an initial offer for a bankrupt company's assets.
Circuit City lawyer Gregg Galardi said three other companies participated in Monday's auction, including PC Connection, PC Mall and Ultimate Acquisition Partners, the operating company for the retail chain Ultimate Electronics. The owner of Ultimate Electronics, Mark J. Wattles, tried in a proxy battle last year to place several nominees, including current Circuit City CEO Jim Marcum, on Circuit City's board.
Circuit City closed its 567 remaining U.S. stores on March 8. It has laid off about 34,000 workers since filing for Chapter 11 bankruptcy court protection in November. A small staff remains at its corporate office.
The company, which posted losses in seven of its final eight quarters, faced heightened competition, pressure from vendors and waning consumer spending. It had hoped to emerge this summer as a stronger and more competitive company, but the hobbled credit market and consumer spending cuts proved insurmountable.
#12
DVD Talk Legend
Re: Circuit City
I can't fathom working at CC corporate. You know your job will end soon when everything is all said and done. God that must be depressing working there.
#13
DVD Talk Reviewer & TOAT Winner
Re: Circuit City
I worked at Tower Records' corporate office until their very last day, about 3 months after the last stores had closed (I was with the online department which had a shred of hope of jobs being kept until the new owners decided to lay off almost everyone and move to Canada)- it was REALLY depressing seeing everything emptied when it had once been a magical place. They were a good company but had too many bad things happen to them.
Circuit City deserved it a thousand times more, and so does Blockbuster who will be next!
Circuit City deserved it a thousand times more, and so does Blockbuster who will be next!
Last edited by Alan Smithee; 05-15-09 at 09:25 PM. Reason: typo
#15
DVD Talk Hall of Fame
Re: Circuit City
I dont miss shopping in the store one bit. What I miss is the competition they had with Best Buy. We have a PC Richards going in to the old CC building at the end of the summer. We'll see what that does to shake things up.
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Re: Circuit City
CC corporate ceased to exist for the most part during January, and that was after extensive layoffs in the fall. All that's left now, if anything, is a skeleton crew of a few execs, legal, and HR. I'm now guessing it was a good thing I didn't get the job I interviewed for at corporate three years ago when I worked at one of the stores.
#17
Re: Circuit City
I miss the old Circuit City of about, oh...15 years ago or so when they were a really good place to shop at. I don't miss the Circuit City that it became in the latter years. At all.
#18
DVD Talk Gold Edition
Re: Circuit City
I don't miss it for the lackluster shopping experience it had become, but the competition it created for local companies was always a healthy thing. Here in Austin we have numerous Best Buy's, a Fry's Electronics, and the super stores like Target and Walmart. If I can't find what I'm looking for at any of these for a decent price I leverage my Amazon Prime membership and buy from there. I'll echo someone's sentiment about the old Circuit City of the 80s and even mid-90s - I first bought something from CC 21 years ago on a trip to Atlanta and felt like it was a decent store. Years later, the DIVX debacle plus poor DVD product placement and stock turned me off from them.
#19
DVD Talk Hall of Fame
Re: Circuit City
Talk about dodging a bullet. Substitute Sam Goody for Circuit City, and you have my experience of several years ago. So glad I was able to jump off that sinking ship while it was still partially afloat.
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Re: Circuit City
I miss CC simply because they gave me a place to waste some of my lunch hour around the corner from my job. What I don't miss: their prices, lack of customer service and selection.
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Re: Circuit City
I miss them. I had a car alarm w/remote start installed there. They had the best offer on the market, a free uninstall. And they wouldn't just rip it out because they'd have to deal with that when they put in your new car.
#25
Banned
Re: Circuit City
Wal-Mart B&M has never really competed with Best Buy retail here in MA, so it was basically CC, Target and Best Buy. Now that CC is gone it's just Target and Best Buy now. But I've mainly purchased the majority of my discs online and I don't forsee that changing any time in the near future.