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is Circuit City Dead? (Closing 155 stores in 2008)

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is Circuit City Dead? (Closing 155 stores in 2008)

Old 11-14-08, 06:11 PM
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Awful to hear man, thanks for the warning.
Old 11-14-08, 06:52 PM
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Originally Posted by Zelim
So, if you buy anything, open the box before leaving the store and I'd even suggest plugging the item in to make sure it works.
You should probably open and inspect the item before you pay for it - not before you leave the store. A subtle point, but very important for those who care.
Old 11-14-08, 06:59 PM
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I got an e-mail today that hhgregg will accept Circuit City gift cards for a limited time (I believe the dates are November 14-18). There are a few conditions--the main one being you can only use it on 20% of an item's cost. For example, you can use $100 circuit city gift card on a $500 item. If you try to use it on a $400 item, the most they'll take off is $80 and you either forfeit the remaining $20 or need to buy another $100 worth of merchandise.
Old 01-12-09, 06:13 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

We'll see if they find a buyer this week. If not, then it's over:

http://www.upi.com/Business_News/200...0751231599658/

Use those giftcards NOW!
Old 01-12-09, 06:22 PM
  #130  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Who is going to honor their extended service contracts??
Old 01-12-09, 09:46 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

wow. worked there for a year back in 05 and things have gone down down down, sad as they are pretty much the only other place in town other than wal-mart where I live
Old 01-13-09, 04:05 AM
  #132  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

A good buyer would be Great American Group- they're the same people who "bought" Tower Records just to kill it!
Old 01-13-09, 01:04 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

I hate Circuit City but I like competition (although I wish they were better at) so I'll be sorry to see them go if that's what happens (as seems likely--who in their right mind would buy Circuit City especially now?).
Old 01-13-09, 01:42 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/dbI5K0AzNHI&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/dbI5K0AzNHI&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
Old 01-13-09, 01:56 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

This Doors fan approves of the above post. Its been a long time coming. Don't order shit online, and better spend those GC's quick!
Old 01-13-09, 06:57 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by TallGuyMe View Post
Who is going to honor their extended service contracts??
Those are usually handled through a 3rd party company not related to CC
Old 01-13-09, 10:45 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

I've been driving a lot between San Antonio and Austin, TX and on I-35 there are no less than 3 Circuit City locations in the process of OPENING.

They're weird though... the logo says "THE CITY" with 'Circuit City' in small letters below it.

I really want them to go under. Every time they have a deal I can NEVER find what I am looking for because of their STUPID vertical organization of DVDs. Ugh! Those complaining about competition... there's still Target, Best Buy, Wal-Mart, Fry's Electronics, GameStop, and a bunch of other competitors left for electronics stores.
Old 01-14-09, 10:30 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Bye bye!
Old 01-14-09, 10:33 AM
  #139  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Ginwen View Post
I hate Circuit City but I like competition (although I wish they were better at) so I'll be sorry to see them go if that's what happens (as seems likely--who in their right mind would buy Circuit City especially now?).
Wal*Mart's looking at them.

Last edited by speedy1961; 01-14-09 at 03:48 PM.
Old 01-14-09, 10:38 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

From Twice.com:


Circuit City Auction Begins Today
By Alan Wolf -- TWICE, 1/13/2009 8:50:00 AM
New York — Circuit City's attorneys will begin accepting bids for the bankrupt consumer electronics chain today at noon.

The two-day auction process, which will be held at the lawyers' Times Square offices here, was delayed for 24 hours as the retailer received “expressions of interest” from potential bidders to keep the company in business.

The company said it is also needed the additional time to continue exploring financing alternatives.

The auction will begin today with bids for the chain's “miscellaneous assets,” which include inventory, property, Internet operations, Firedog assets and corporate airplanes. Wal-Mart is among six bidders for Circuit City leases.

A store-closing auction for all inventory, fixtures, furniture and equipment at Circuit City’s retail stores, warehouses and distribution centers begins Jan. 14 at noon.

The critical “going concern” auction, which will determine whether Circuit City continues operations, begins Jan. 14 at 3 p.m. Two “highly motivated and interested parties” have largely completed due diligence on the company and are close to making a deal to buy the business or provide additional financing as it restructures, the retailer revealed last week.

All offers will be evaluated by Circuit City and representatives of the creditors' committee, and the highest bidders could enter a final auction on Jan. 15. A hearing to approve the sale will be held in a Richmond, Va., bankruptcy court on Friday. That's when the company's credit facility expires and the retailer will be unable to continue operations.

Circuit City said in court papers that allowing it to continue operating on a national or regional basis through a buyout or alternative financing would be in the best interests of the company and its creditors. It said it is “optimistic” that it could strike such a deal with one of its as yet unnamed white-knight bidders.Speculation on their identities centers on Mexican billionaire Ricardo Salinas Pliego, a banking, broadcasting and retail tycoon who controls 28 percent of Circuit City shares, and dissident shareholder Mark Wattles, who forced a shakeup of the company's board and senior management and may be looking to meld it with Ultimate Electronics.
Old 01-14-09, 10:51 AM
  #141  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Who the hell would want to buy a dying company in a bad economy? Helluva gamble to try to profit from.
Old 01-14-09, 11:32 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Jim Keyes and Blockbuster almost did last year...who knows.
Old 01-14-09, 12:07 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Circuit city is garbage. The store near me is always a mess. YOu can never find what you are looking for. The dvd and cds are always disorganized, they never alphabetize them. Makes it next to impossible to get in on any of their deals. They have plenty of registers in the store, but no one mannign them. YOu alway shav to go to customer service to get rung up. I thought that part of the purpose of having customer service seperate was so that returns were handled seperately to speed up the process.
Old 01-14-09, 12:27 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Dean Kousoulas View Post
Jim Keyes and Blockbuster almost did last year...who knows.
They don't exactly seem to be the paragon of good business decision making. Maybe Kmart/Sears can buy them up...
Old 01-14-09, 01:19 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by speedy1961 View Post
Wal*Mart's lookig at them.
You know, that does make a certain amount of sense.

I can certainly see Wal-Mart wanting to get into the consumer electronics game and going head-to-head with Best Buy. There's only so much room at Wal-Mart stores to house CDs, DVDs, games, televisions, computers, etc. Between the high mark-up on electronics hardware and appliances, and the goldmine that is extended warranties, it seems like a pie Wal-Mart would want a piece of.

Buying up a moribund retail chain, picking its carcass, and giving it a capital transfusion would probably make a certain amount of sense for them rather than starting from scratch.
Old 01-14-09, 03:30 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

I am far from a Circuit City fan at this point, but I used to prefer Circuit City to Best Buy. IMHO, Best Buy isn't even trying anymore. It wouldn't be that difficult to rectify the unanimous annoyances of the stocking issues, staff, inventory, etc. and turn it around. I agree with the other poster's logic about Walmart benefitting from using the space. They would really do well to make the $5 bin/shelves a huge section that is well organized and constantly stocked. I see this as a win for the consumers if the right cards are played.
Old 01-14-09, 03:41 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Wal Mart is not going to expand into the consumer electronics business. They only interested in the leases. This is very important, especially in urban areas where there are no places to build new stores.
Old 01-15-09, 12:47 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Groucho View Post
Wal Mart is not going to expand into the consumer electronics business. They only interested in the leases. This is very important, especially in urban areas where there are no places to build new stores.
Exactly.. but then again, if a city has Circuit City, isn't there a 99% chance there's all ready a Wal-Mart there? I mean most places I know, no matter how desolate, at least have that.

I wonder what type of town has a Circuit City but no Wal-Mart.
Old 01-15-09, 01:08 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by mcfly View Post
Exactly.. but then again, if a city has Circuit City, isn't there a 99% chance there's all ready a Wal-Mart there? I mean most places I know, no matter how desolate, at least have that.

I wonder what type of town has a Circuit City but no Wal-Mart.
The town next to mine has a Wal-Mart, Circuit City, and Best Buy all on the same street, however there is another Wal-Mart only a couple miles away, so it wouldn't surprise me if they wanted to open up 2 around the same area elsewhere.
Old 01-15-09, 01:53 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Woodland hills Ca. has a Best Buy across the st. from a Circuit City ... and about 2 blocks away you'll find a Frys Electronics .... then about 1/2 a mile or less theres a wal-mart and a target in the same shopping center ... i never knew how anyone stayed in business like that.... P.S i hope CC dies ...

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