Circuit City goes bankrupt, will close all stores
Circuit City, the second largest electronics retailer, won't be around to sell you stuff anymore. All 567 of its stores will close for good.
Circuit City didn't fare too well over the holidays. You might have noticed that it hasn't achieved the same level of prominence as Best Buy. Turns out it never will, unfortunately. The company is filing for bankruptcy after poor performance and a lack of interest from the folks it gets its gadgets from.
All 567 of its stores will start closing as early as this weekend, and as many as 35,000 people could lose their jobs. This is bad news if you shop or work at Circuit City, but it could also be a bummer if you've ever shopped there before; the company isn't yet sure what to do about outstanding warranties and other deals it's made. If you bought a camera at Circuit City with a store-supported one year warranty six months ago, will you have any options if the camera breaks in the next six months?
We hope so! But one thing's for sure: if you've been a loyal Circuit City customer, you'll probably have to break down and start going to Best Buy.
This story around the web:
- Trusted sources:
Circuit City to liquidate remaining US stores… [iht.com]
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Circuit City seeking to liquidate - Jan. 16,… [money.cnn.com]
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Circuit City Will Be Liquidated, Sources Say … [cnbc.com]
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Circuit City Forced to Liquidate All Stores,… [DailyTech Main News Feed]
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Circuit City ist kaput [Boing Boing Gadgets]
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Circuit City Liquidates Remainder of Stores [Gearlog]
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Techmeme: Circuit City To Close All Stores;… [techmeme.com]
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Tech Trader Daily - Barron’s Online :… [blogs.barrons.com]
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Circuit City to shut down remaining stores |… [news.cnet.com]
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Circuit City fails to be wanted, will now be… [engadget.com]
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Electronista | Circuit City to liquidate,… [electronista.com]
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Circuit City files for bankruptcy, 567… [boygeniusreport.com]
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Comments (3)
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Veritas (4:54 AM on Sat Jan 17, 2009)
Man I used to work there... the article doesn't really tell much to the consumers who bought the 'circuit city extended warranties'. That sucks for them man, paying a premium for support you can never get? Hopefully they (circuit city) don't have those coverage plans dropped by the company that covers them (a third party company handles their extended service plans though circuit city did the work itself).
Anonymous (2:06 AM on Mon Jan 19, 2009)
visited circuit city a couple of times whilst in the states and canada. Lets face it, no wonder you went bust. You knew nothing, about anything! I thought the US was supposed to be all cutting edge gadgetry, you guys had barely discovered fire! Very disappointing.
Rachel Cericola
(12:20 PM on Wed Jan 28, 2009)
I couldn't even tell if they were knowledgeable or not. No one would ever give me the time of day... at a few different locations. Worst customer service ever.