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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 01-15-09, 09:56 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Circuit City was horrid compared to Best Buy (worst DVD layout, checkout at customer service, no employees around), but having them for competition at least was a good thing, particularly here on the East Coast where we don't have stores like Fry's.
Old 01-15-09, 10:04 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.
Simply having a Walmart in the city isn't enough. They may want more stores, or the Circuit City may be in a very desirable location.

Also, Walmart may be interested in reselling the lease at a profit if and when the market improves.
Old 01-15-09, 12:43 PM
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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.
In greater Los Angeles, there are surprisingly few Wal-marts, but a bunch of Circuit City locations in places like Pasadena, Glendale, and Burbank. However, the CC stores (and parking lots) are pretty tiny compared to the average Wal-mart, and I think there'd be opposition from local businesses to building out Wal-marts here.

There are tons of Targets here, though.
Old 01-15-09, 01:37 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

I was assuming that the name Circuit City would be retained if Walmart took over and Walmart would just apply a more profitable business model to it. The casual movie buyers would continue to buy product at Walmart and the more serious buyers would continue to buy at a new and improved "Circuit City" but Walmart would reap the benefit.
Old 01-15-09, 02:02 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Dean Kousoulas View Post
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.
Was going to say that you were describing my location to a T, then I saw where you are located, and it actually is the same location. I prefer the walmart on Route 7, how about you?
Old 01-15-09, 03:12 PM
  #156  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Wal-Mart won't be able to build new stores in old Circuity City locations unless they can run the PetCo and T.J. Maxx stores they're nestled between away.

Every Circuit City I've ever been has been rather tiny, and there's no way a Wal-Mart could move in there without running out a few other businesses, too.
Old 01-15-09, 04:11 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Josh-da-man View Post
Wal-Mart won't be able to build new stores in old Circuity City locations unless they can run the PetCo and T.J. Maxx stores they're nestled between away.

Every Circuit City I've ever been has been rather tiny, and there's no way a Wal-Mart could move in there without running out a few other businesses, too.
Maybe Wal-Mart could start a new line of Wal-Mini-Marts. Kind of the compliment to their Super Wal-Marts.
Old 01-15-09, 06:16 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

It's possible they could be eyeing them up to convert them in to Wal-Mart Neighborhood Markets. They're about the right size.
Old 01-15-09, 08:05 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Uhh, so if no one buys Circuit City what's going to happen to my Circuit City card balance that I had 36 months to pay off?
Old 01-15-09, 10:05 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

I'm guessing that's run through a bank, and would incur no changes.

= J
Old 01-16-09, 12:49 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by jjcool View Post
Was going to say that you were describing my location to a T, then I saw where you are located, and it actually is the same location. I prefer the walmart on Route 7, how about you?
I always find the parking on Route 7 to be a pain in the butt, so if I had to go, I go to the one by Best Buy, since i'm down here anyways.
Old 01-16-09, 09:47 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

DEAD:

Circuit City to liquidate remaining US stores

Circuit City and liquidators to sell off merchandise in remaining 567 US stores

Michael Felberbaum and Vinnee Tong, AP Business Writers

Friday January 16, 2009, 10:44 am EST

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.

The second-biggest electronics retailer in the nation says in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators.

Calls to the Richmond, Va.-based company and the liquidators were not immediately returned.

Circuit City filed for Chapter 11 bankruptcy protection in November. U.S. Bankruptcy Judge Kevin Huennekens gave the company permission to liquidate if a buyout was not achieved.

http://finance.yahoo.com/news/Circui...-14083094.html
Old 01-16-09, 10:00 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

If you have a Circuit City gift card, I would think about spending it at a store today...
Old 01-16-09, 10:16 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Update: Looks like my cache was old, this was already posted by stingermck above. Move along

Looks official:


(Reuters) – Circuit City Stores Inc (CCTYQ.PK) will be fully liquid, CNBC reported on Friday, citing a source.
http://news.yahoo.com/s/nm/20090116/..._circuitcity_2

Last edited by ween; 01-16-09 at 10:18 AM. Reason: Old News
Old 01-16-09, 10:42 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by sasquatchlives View Post
Just checked this on another thread weren't these guys a part of Google once?
Circuit City was never part of Google; it's existed for longer than Google has.
http://en.wikipedia.org/wiki/Circuit_city#History
Old 01-16-09, 10:43 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Still have a $10 GC. Better spend it this weekend.
Old 01-16-09, 10:59 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

30,000 more people will be unemployed.
Old 01-16-09, 11:02 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by milkdog View Post
30,000 more people will be unemployed.
That many people working in 500 stores, and I could never find anyone to help me....
Old 01-16-09, 11:07 AM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Let the deals begin.
Old 01-16-09, 01:08 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by stingermck View Post
That many people working in 500 stores, and I could never find anyone to help me....
Yeah, that works out to sixty people per store.

And yet they never have more than one check-out open.
Old 01-16-09, 01:40 PM
  #171  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Josh-da-man View Post
Yeah, that works out to sixty people per store.
I imagine there were corporate offices and distribution centers, as well as drivers.That also probably includes the Firedog employees.

Also, not all the workers that are employed at the stores are working there all day, every day. They obviously would only be working part of the full day CircuitCity is open, and would have days off as well. Plus, not all the workers were full-time.
Old 01-16-09, 01:50 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by Josh-da-man View Post
Yeah, that works out to sixty people per store.

And yet they never have more than one check-out open.
Wait... your CC had a checkout open?

All the ones around here leave the checkouts empty, and make you go through customer service.
Old 01-16-09, 02:05 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Hated how they organized the DVD sections but still somewhat sad to see them go.

Less competition for Best Buy and no more Circuit City exclusives!
Old 01-16-09, 07:37 PM
  #174  
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

I love some of the sarcastic comments above. I hate the thought of anyone losing their jobs, but these were some of the most inattentive, unfriendly, and laziest workers I had ever had the pleasure of encountering. There was very little pride in a job well done, and it showed.
Old 01-16-09, 07:55 PM
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Re: is Circuit City Dead? (Closing 155 stores in 2008)

Originally Posted by boc4ever View Post
I love some of the sarcastic comments above. I hate the thought of anyone losing their jobs, but these were some of the most inattentive, unfriendly, and laziest workers I had ever had the pleasure of encountering. There was very little pride in a job well done, and it showed.
When you fire everyone in the store that makes over a certain amount, that kinda takes away the motivation to do well enough in your job to get promoted and then get laid off the next time. And as the ship just kept slowly sinking, I'm sure morale wasn't great.

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