Circuit City Goes Bankrupt
Although, to be honest, I can't recall the last time I saw an open Circuit City. Usually when I see them, they're just empty storefronts waiting to be turned into a Best Buy.
The chain sought Chapter 11 protection in U.S. Bankruptcy Court in Richmond, Virginia, today after suppliers concerned about declining sales at almost 1,500 U.S. and Canadian stores cut off credit and demanded up-front cash for shipments. The company owes $119 million to Hewlett-Packard Co., the world's largest maker of personal computers, and $116 million to Samsung Electronics Co., the top maker of flat-panel displays, according to a filing.
Not a good sign for any retailer. I think the last time I went into a Circuit City was because of a massive discount sale, which we'll probably be seeing a lot more of as they close more stores. Our hearts go out to those who will soon be looking for work, so close to the holiday season.
Circuit City, Electronics Retailer, Seeks Bankruptcy [Bloomburg]
[via: GamePolitics]
Sgt. Sausagepants
Posted to Hot Stuff, Video Games on 10 November 2008
· Comments (5)
Other stuff like this: bankruptcy, Circuit City
Which is totally a shame because I've always liked Circuit City better. Damn.
I hope they don't close the ones near me any time soon. D:
If any company deserves to go under, it's this one. Worst employees I've ever seen and it doesn't matter where I go, they all have 0 people manning registers. I never once had someone ask me if I needed help and frankly the only time I go in there now is when things are on sale.
Maybe I'll get some good deals again from CC.
It sucks. Circuit City was better than best buy but recently they where hiring Best Buy rejects so they would pay them less money but then you got shitty best buy costumer service. Plus most of their stores where looking more like Radio Shacks from the early 90's.
Interesting. I went into a Circuit City today and they still had "Now Hiring" signs up.
They're closing 150 stores, but they're not closing up, officially.
Associates varies from store to store, but in my personal experience, I've seen a lot of great customer service come from that store. People at the local Circuit City were more knowledgable & helpful than Best Buy associares.