RSSCircuit City to liquidate remaining inventory
By Scott M. Fulton, III | Published January 16, 2009, 11:56 AM
The Wall Street Journal is reporting that Circuit City has reached an agreement with liquidators to sell all the merchandise in its remaining 567 stores in the US. This is the beginning of the endgame for the nationwide electronics retailer, which already filed for Chapter 11 protection last November.
In a press statement minutes ago, the court-appointed CEO of the company, James Marcum, said, "We are extremely disappointed by this outcome. Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."
Good god they deserved this. I've never been treated worse or ignored more than I was at Circuit City.
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|Good riddance to poor service, and overpriced product.
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|good bye, i wont miss there over priced goods and rude employees here
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|Wow. That is a big extra group of people getting added to the unemployment rolls. It will also be a big anchor hole in 600+ strip malls, which will hurt smaller chains.
I'm sure I'm like a great number of people who has been making occasional small "need it today" purchases at CC, but usually making big purchases (TVs, monitors, cameras) either online, or at places with the flexibility to match NewEgg or other online store pricing. I did prefer the CC stores over BB, however, and am sorry to see them go.
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