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Circuit City going belly up

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Well, don't expect to find bargain basement prices on PS3s or Bravias or CyberShot DigiCams or anything else from Sony, since word broke last week (before CC acknowledged they were shutting down 155 stores) that Sony stopped all product delivery to CC for fear of being stiffed when CC's line of credit runs dry.
 
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slickdeals said:
Since Circuit City isn't going out of business like CompUSA did, I don't think they would use a liquidator since they are just closing down stores right?
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ts @ 5% off -30%
most the items @ 10%
asked the supervisor and they said they will lower after a while (wouldn't give me exact date)

not really good deals but if you dont like paying tax (10% should be more then enough to cover tax) good time to buy now

my store only had 1 xbox left and it was 179.99
on the fence about it but someone took it while i was deciding oh well
GC can not be used
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This CC liquidation has nothing to do with CC policy or pricing.

Every CC closed store has been purchased by 3rd party, they control the prices and mark downs, not the acting manager or employs unless its a broken item that you want to buy because you can fix it, than the acting manager will reduce the price...

I seen how these guys do the mark downs, its a slow process since its their money and their inventory, not CC...
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they are using liquidators..
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Dryden;1316170; said:
On the plus side, if you're looking for gift ideas this Christmas, shares of CC stock are now only 27 cents. :p
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:slappy:
 
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Circuit City was going out of business no matter what. The buildings practically exist side-by-side with Best Buys, and both sell the same products for the same prices. One company has been profitable and the other hasn't been. Pretty simple. Circuit Citys store layout blows, the stores are unnecessarily dark and dreary, and people don't like shopping there. Plus, there are Targets and WalMarts to shop at these days too.

With a frozen credit market CC's line of credit is drying up. *gasp* Manufacturers are actually expecting retailers to wholly operate on the book and above the black from here on out. CC is just the first martyr. Since CC can't get more credit from existing backers, and any potentially new avenues are frozen, they're left shuffling the stock they actually have to the stores that are competitive while closing out the stores that are failing. The credit crunch is just causing CC to go out of business now, instead of 6 or 8 Qs from now.

Since CC will be left shuffling stock in a shell game, the stores that are going out of business and headed for the loving arms of a liquidator will get left all the shit -- because the hot Black Friday items are being consolidated in a last ditch effort to save the company, who now has to be their own supplier moving goods around from store to store, since they won't be able to buy direct anymore.

I doubt that a single CC that's targeted for closing has an iPod left that isn't in a brown box on it's way to CC-HQ for redistribution to a store where people actually shop. Anything *worth* buying has already been reallocated.

Problem is it's too late -- akin to rearranging the deck chairs on the Titanic. CC isn't going to turn a profit this holiday season, and won't be able to eat the losses in a cost cutting war against BB, WM, and Target. They'll go out with a whimper after X-Mas.
 
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fourteenandoh;1316345; said:
FWIW those things are usually covered by an outside insurance company so even if CC goes down you should still have coverage.
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A CC protection policy is backed up by another entity?

Or do you mean the standard warranty that often comes with a TV? (ie 1 yr brand warranty vs 3/4 yr store warranty)
 
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I've read numberous posts in this thread saying "GCs" won't be honored. I assume that means "gift cards". If so, isn't CC obligated to honor them since they've already been given money for the gift cards? You would think it would be illegal for them to sell gift cards and then turn around and not honor them.
 
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jwinslow;1316348; said:
A CC protection policy is backed up by another entity?

Or do you mean the standard warranty that often comes with a TV? (ie 1 yr brand warranty vs 3/4 yr store warranty)
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when i worked at best buy they were covered by a separate insurance company. it said that if best buy ever went down the service plans would still be honored.
 
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Good to Great: Why Some Companies Make the Leap . . . and Others Don?t
New York: HarperBusiness, 2001. 320 pages, 9 chapters.
Based on a five-year research project, Good to Great answers the question: ?Can a good company become a great company, and, if so, how?? True to the rigorous research methodology and invigorating teaching style of Jim Collins, Good to Great teaches how even the dowdiest of companies can make the leap to outperform market leaders the likes of Coca-Cola, Intel, General Electric, and Merck.
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Apparently "making the leap," per Jim Collins, refers to a leap into bankruptcy.
 
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Hmm ... looks like GM is running out of money too.

I'm watching the realtime books at BATS trading and the share price is dropping like a lead balloon.

CNN headline: GM reports $4.2 billion loss and warns it is running out of money.

Yeah? No shit?

No worries! Here comes the Dubya Guberment to reward poorly managed, irresponsible companies that ARE SUPPOSED TO GO OUT OF BUSINESS with a bail out. :roll1:
 
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Dryden;1318043; said:
No worries! Here comes the Dubya Guberment to reward poorly managed, irresponsible companies that ARE SUPPOSED TO GO OUT OF BUSINESS with a bail out. :roll1:
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It's the Dubya administration with a Pelosi/Reid congress. You need to blame everyone if you're gonna play that game.
 
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