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Used Up User
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Circuit City to Liquidate
As expected by most, CC failed to survive it's bankruptcy in an auction yesterday & has hired liquidators to sell off all inventory. 567 stores & 30,000 jobs are down the drain. These leaves Best Buy & Walmart as the only brick & mortar national US CE chains.
Story: Bloomberg Some of you may say good riddance but liquidation sucks money from the smaller independent shops who are already struggling to survive. As for online vendors, it's really tough to listen to a loudspeaker or an amp over the net . . .  Ian
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'87 Carrera Cab ----- “Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.” A. Einstein ----- |
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01-16-2009, 08:02 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Yep. I know a few people who work at the local CC. They are all out of jobs now. (Or, more accurately, will be in the very near future.)
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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01-16-2009, 08:06 AM
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Registered
Join Date: Aug 2007
Location: Kenbridge VA
Posts: 4,285
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They have said it was two years of losses, but they spun off CarMax in 2002. They saw this coming and protected their investment in Carmax.
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Peppy 2011 BMW 335d 1988 Targa 3.4  2001 Jetta TDI dead 1982 Chevette Diesel SOLD 
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01-16-2009, 08:23 AM
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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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Not that I loved CC...but am sorry to see it go...just another brick in the economy failing...falling
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Copyright "Some Observer" |
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01-16-2009, 09:32 AM
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Banned
Join Date: Jan 2007
Posts: 8,509
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Good riddance.
I hated going in those stores. They have one close by and I used to stop by to get speaker wire odds & ends etc. The noise was deafening; usually hip hop, the salespeople knew nothing and you were treated like thief. Their idea of a great stereo was Bose and their CDs reached the stratospheric levels of retail pricing (not that they had much of a collection). And when you checked out they did inventory and never failed to give you the insurance pitch. I'm sorry for the people who lost their jobs but CC deserved to die long ago. |
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01-16-2009, 09:42 AM
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1987 Porsche 911 Carrera Cabriolet 3.2
