Circuit City Closes Today

Nearly two months after announcing its plan to liquidate—and four months filing for Chapter 11—electronics retailer Circuit City is closing its doors today. The AP reports, "Circuit City was slated stay open until the end of the month, but the final day came early because most of the remaining merchandise has been sold. One of the liquidators (four were handling the sale of CC's merchandise) told Bloomberg News, "Overall, we are pleased with the way things went." Some consumers, on the other hand, might not have been happy with the liquidation sales, such as a Minnesota family that claims they were prevented from opening a TV box to see if it was damaged...only to go home and see it was shattered. The chain leaves behind a number of locations (some rather large) in NYC; it's unclear what stores will fill them in this real estate market.

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By Jen Chung in News on March 8, 2009 8:52 AM

Comments [rss]

TN

How's P.C. Richard doing?

NannyState

The liquidators are doing the bidding of the creditors in the bankruptcy who are satisfied to get a percentage of the proceeds. Anything after that is gravy for the liquidators so who's surprised that they play every con game to gain the most from a sale? Buyer beware, caveat emptor, yada yada...

Steven

Sometimes I wish I knew what is ticking in some humans brains. Let's buy as huge ticket item without seeing it and without being able to return it. I bet these people didn't do ANY research on the tv models.

JacqueMehoff

those liquidators are another one of those scum businesses.

Mr Mel

These liquidators have been known to get more money for the goods than the stores that they were liquidating did when they were still in business.

jackdonaghy

That's because people flock to stores when they read or hear about their impending doom. Unfortunately for consumers, Circuit City barely reduced their prices, especially on televisions.

As for the Minnesota family, why would you buy a tv from a company about to close AFTER they refused to let you inspect it?

CR

I'm will to bet this place is packed today because consumers act like there will be no place to get their electronics once this place closes. Seriously, it's been packed every time I've gone in - and people are buying tons of shit at inflated prices that they can't return if it doesn't work. Don't these people shop online?!?

As for te Minnesota family - that's an aspect of disgusting consumerism culture - you absolutely MUST have that TV no matter what, and other people need to see you buy it.

tmz is evil

You don't have to bet, CR. Out of curiosity I went to the Union Square CC yesterday to take pictures. There were insane numbers of people on line at customer service to pick up whatever "special deal" was being announced (I think it was a TV or something). This in spite of the fact that the placed was completely picked clean *and* all they had left were fixtures, barking security guards, and messed up, worn out display models with huge cosmetic defects going for a little less than a brand new one (lol).