Retailer Circuit City to Close Completely, 30k Jobs Will Be Lost
A little over two months back we reported on retailer Circuit City closing 155 store locations... and today, they have officially announced they are closing the rest.
To quote: US electronics retailer Circuit City is to close after failing to reach a deal with its creditors and lenders, with the loss of 30,000 jobs.
Liquidators will now sell off the firm's assets. The announcement comes two months after the firm was forced to seek bankruptcy protection.
Some 567 Circuit City stores will now shut for the last time. About 155 stores had already closed in December.
Circuit City vice chairman James Marcum said the decision was "regrettable".
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Beware of close-out deals at Circuit City
Once people know that CC is closing, they will think that they are getting good deals. They are not going to mark-down their high-end electronics at fire sale prices. Plus you have to remember that you are buying the stuff as-is, no returns. So if you buy a T.V. and it quits on you a day or two after the store closes, you are stuck with a paper weight. Caveat emptor.
i've always prefered BestBuy over Circuit city, because BestBuy prices are usually lower. But its sitll a shame to see the store go down. But atleast in a month or so there will be some pretty good deals there