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  • Circuit City - Closing

    Insider information.

    My store directer just got word that its now offical that CircuitCity will be closing its doors. There are no details at this time and how soon it will happen. I'll give you guys info as I can and with deal detials if there are any.

    As far as I know, there has been no press release as of yet be should come a bit later today.


    Edit: Press release

    Edit: Assurant Solutions (AIZ stock ticker) is handling the warrenty claims. Everyone is allowed to prorate their current warrenty at any time. 800-555-4615 for all warrenty information and claims.
    Last edited by Mordona; 01-16-2009, 07:51 PM.
    The soldier formerly known as, Eroak.

    From the TG Primer: 2) Create an environment where there is
    mutual respect for your fellow gamers
    and where all members
    would be working together to advance the enjoyment of their hobby.
    Former TGU Dean, 3rd, 9th, & 56th IHS member.

  • #2
    Re: Circuit City - Closing

    Wait... CC or just your CC?

    ~ Draken

    EDIT:

    Originally posted by Associated Press

    Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, reached an agreement with liquidators on Friday to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.

    The company, which employs more than 30,000 employees, said 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.
    Story continues below ↓advertisement | your ad here

    Circuit City filed for Chapter 11 bankruptcy protection in November as vendors started to restrict the flow of merchandise ahead of the busy holiday shopping season.

    It had been exploring strategic alternatives since May, when it opened its books to Blockbuster Inc. The Dallas-based movie-rental chain made a takeover bid of more than $1 billion with plans to create a 9,300-store chain to sell electronic gadgets and rent movies and games. Blockbuster withdrew the bid in July because of market conditions.

    Circuit City, which said it had $3.4 billion in assets and $2.32 billion in liabilities as of Aug. 31, said in its initial filings that it planned to emerge from court protection in the first half of this year.

    Under court protection, Circuit City has broken 150 leases at locations where it no longer operates stores. The company already closed 155 stores in the U.S. in November and December.

    U.S. Bankruptcy Judge Kevin Huennekens had given the company permission to liquidate if a buyout was not achieved.

    Comment


    • #3
      Re: Circuit City - Closing

      Originally posted by DrakenViator View Post
      Wait... CC or just your CC?

      ~ Draken

      EDIT:

      Everything, retial and service stores including firedog. insurance and warrenty will be covered by Asurent (sp?) Solutions.
      The soldier formerly known as, Eroak.

      From the TG Primer: 2) Create an environment where there is
      mutual respect for your fellow gamers
      and where all members
      would be working together to advance the enjoyment of their hobby.
      Former TGU Dean, 3rd, 9th, & 56th IHS member.

      Comment


      • #4
        Re: Circuit City - Closing

        Wow. Good thing I don't buy PCs from stores anymore. You never know when they'll discontinue something or shut down these days. Circuit city wasn't bad though. I liked how it focused on electronics. I had a friend who worked there.

        |TG| Eudiphon


        sigpic
        "But in contemplating history as the slaughter-bench at which the happiness of peoples, the wisdom
        of states, and the virtue of individuals have been sacrificed, a question necessarily arises:
        To what principle, to what final purpose, have these monstrous sacrifices been offered?"
        - G.W.F. Hegel Reason in History

        Comment


        • #5
          Re: Circuit City - Closing

          Looks like I'm on the lookout for TV sales!

          Sorry for those who lost their jobs.

          Comment


          • #6
            Re: Circuit City - Closing

            As soon as sales info is given to me, I'll post it here. Remember, I'm in the northeast region, so sales in other areas might vary.
            The soldier formerly known as, Eroak.

            From the TG Primer: 2) Create an environment where there is
            mutual respect for your fellow gamers
            and where all members
            would be working together to advance the enjoyment of their hobby.
            Former TGU Dean, 3rd, 9th, & 56th IHS member.

            Comment


            • #7
              Re: Circuit City - Closing

              That sucks E.

              I hope you don't have too rough a time finding a new job. (I know its not instant, but no sense in waiting, right?)

              Comment


              • #8
                Re: Circuit City - Closing

                The one down the street closed right before Christmas and they took the sign down yesterday. Three more in the valley are closing.


                18th SF Operational Detachment Delta

                Comment


                • #9
                  Re: Circuit City - Closing

                  Wow this is a shock to me in my town we just got a new Circuit City last year in our new mall Its Big and very nice allways busy I go thier all the time.
                  |TG| Plude220

                  Comment


                  • #10
                    Re: Circuit City - Closing

                    Well, sales are going to inconsisent. Every store will be different pending on stock and timeframe to close. So I can't say for sure whats going to be what and where.

                    CCity is projecting to have all retail, service, and warehouse business closed within 90 days.

                    Assurant Solutions (AIZ stock ticker) is handling the warrenty claims. Everyone is allowed to prorate their current warrenty at any time. 800-555-4615 for all warrenty information and claims.
                    The soldier formerly known as, Eroak.

                    From the TG Primer: 2) Create an environment where there is
                    mutual respect for your fellow gamers
                    and where all members
                    would be working together to advance the enjoyment of their hobby.
                    Former TGU Dean, 3rd, 9th, & 56th IHS member.

                    Comment


                    • #11
                      Re: Circuit City - Closing

                      Mine cleared out during the xmas season and is now a shell. They were selling the furniture and shelving just before xmas. I felt like a ghoul just walking in there. (I needed a phone for my mom, who's cats peed on her old one. I ended up going down the street to Best Buy to get one.)
                      Dude, seriously, WHAT handkerchief?

                      snooggums' density principal: "The more dense a population, the more dense a population."

                      Iliana: "You're a great friend but if we're ever chased by zombies I'm tripping you."

                      Comment


                      • #12
                        Re: Circuit City - Closing

                        http://www.circuitcity.com/closed.html
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                        • #13
                          Re: Circuit City - Closing

                          OK, current projections are to be closed in about 60 days.

                          Sales are at 90% of stores at rates of 10-30% off. 10% on bigticket (TVs PCs GPS, ETC) and 30% on odd end items like cables and calculaters.

                          most CCity stores will recieve shippingments within 2 weeks to clear out out warehouse logistics. This'll be hit or miss but they promised us to be as balanced as possible to give all stores a bit of everything.

                          Today is worse the back friday and all sales must be price adjusted at time of sale. Our system hasn't had time to update all products to the new sale prices. In the next 2 days we are projecting to normalize floor traffic from the "madness" it is today.
                          The soldier formerly known as, Eroak.

                          From the TG Primer: 2) Create an environment where there is
                          mutual respect for your fellow gamers
                          and where all members
                          would be working together to advance the enjoyment of their hobby.
                          Former TGU Dean, 3rd, 9th, & 56th IHS member.

                          Comment


                          • #14
                            Re: Circuit City - Closing

                            I went inside mine to see the clearance on the games, but they are 10%, which is still a crappy deal. People were idiots loading up their carts with stuff. 10% only covers taxes, I'll wait a bit longer.

                            Comment


                            • #15
                              Re: Circuit City - Closing

                              While I'm sorry to hear that you will have to look for new employment Eroak, I hate CC with a passion and have personally boycotted the chain for about 3 years now.

                              Comment

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