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Today began the wind down in the liquidation process for local Circuit City stores after the electronics chain announced yesterday that it would be filing for bankruptcy. Circuit City has 30 stores instate and ten in the immediate area (plus one in Woodbridge, NJ), but the store was not available to say just how many local employees it would have to lay off. Consumerist has an FAQ about the liquidation process—encouraging customers to use their leftover gift cards ASAP, return any unwanted purchases before January 30th and avoid the "big liquidation sales" which they describe as a gimmick where after markups, prices end up "the same or even higher than the price before the liquidation." Any employees laid off in the closing will receive pay and benefits for a 60-day period that began yesterday. Economists fear that Circuit City may just be the first in a number of closings to be announced after holiday sales figures for retailers were even lower than projected.
Circuit City Begins to Brown Out
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not exactly NY news, but it's one more reason to hate hamas terrorists and the fascists in their mid
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Just went into the store in Union Square. Place was PACKED! Worse than xmas! There were no "deals" to be had (and my job is buying tech stuff for companies so I look at prices all day long) - prices were higher than usual, or they were giving a whopping- hold onto your hat here folks - 10% off. The lines were around the store. You could buy most of this stuff for much cheaper online, so I really don't get. People were buying stuff that if it doesn't work you can't return. Really rediculous.
So much for a Sony Bravia LCD giveaway - you're better off going to Amazon for a good deal...
The liquidating companies that run these going out of business sales get more money for the goods than the bankrupt stores asked for before they collapsed.
Just avoid them like the plague...you know, like usual.
>>Today began the wind down in the liquidation process for local Circuit City stores after the electronics chain announced yesterday that it would be filing for bankruptcy.
Circuit City ALREADY filed for bankruptcy--in the Eastern District of Virginia, Case No. 08-35653, on November 10, 2008.
Rather, CC couldn't find a buyer and got court approval to liquidate its assets. There is no additional bankruptcy filing on the horizon.