Khandurian 0 Posted January 17, 2009 Goto www.circuitcity.com to read all about it. Goto your local circuit city and get what should be some killer deals! Share this post Link to post Share on other sites
scorpion 0 Posted January 17, 2009 Blame WalMart's Television Pricing Schedule! They killed a lot of "mom n pop" TV retailers as well. Not much margin left in selling TVs. Nowadays with all of the options, and technology associated with TV you will find no "trained" employees to help you through the selection process. Share this post Link to post Share on other sites
survtech 0 Posted January 17, 2009 I'm not so sure you can blame WalMart for CC's problems. Best Buy is doing OK. "When BBY reported 3rd quarter 2009 earnings of $0.35 per share, it beat the $0.25 consensus estimate of the 3 analysts covering the company. BBY is expected to announce 4th quarter earnings the week of March 26, 2009." - Reuters CC had its own set of problems. According to 24wallst.com: "January 16, 2009 Circuit City's Hari Kari Today marks the official death of Circuit City Stores, Inc. All hopes of reviving or saving all or part of the company are gone. The company is now officially seeking approval from the U.S. Bankruptcy Court to liquidate its assets. We held little to no hope for Circuit City for some time. There were many problems at Circuit City not seen at other failed retailers. We criticized former CEO Schoonover endlessly as his efforts were wrong every step of the way. If you are looking for blame, you don't need to bother blaming a recession, competitive pressure or the move to lower-end technology merchandise. Schoonover ran this ship ashore. Over and over. And over. This was not Wal-Mart and it was not Best Buy. It was Schoonover and his underlings that went along with the plans. There will now be some 30,000 new jobless claims added to the list over the next few weeks. The company noted, "We are extremely disappointed... we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available... this is the only possible path for our company." Circuit City said that it will offer more details about the liquidation of the stores and other assets, the status of the company's Web site and firedogSM services operations, and more. This is a statement from the Land of Duh as is the case in most bankruptcies or liquidations, but the company did confirm that there will likely be ZERO value left over for the stockholders. We would advise ANY COMPANY OR ORGANIZATION to not consider Mr. Schoonover as a candidate to lead any future company. Not unless they own a lot of put options. Jon C. Ogg January 16, 2009" Share this post Link to post Share on other sites
scorpion 0 Posted January 17, 2009 What effects will there be for CarMax? Does the Parent company of CC still own CarMax? Share this post Link to post Share on other sites
Lolo Wolf 0 Posted January 17, 2009 October 1, 2002, Circuit City completed the tax-free separation of the CarMax business, and CarMax became an independent company. Share this post Link to post Share on other sites
Khandurian 0 Posted January 17, 2009 This was as I feared. I knew going into one of my local stores theres always catch when they liquidate a store. I was walking threw and noticed everything was "on sale". So I walked around a listened to the sales people explain over and over and over (get the picture) to those that were asking the same question. "How much is this on discount for?" The Reply - "Anything that has an "ON SALE" sticker on it as as marked. If it doesn't have an "on sale" sticker than its up to 30% off." Funny how every single TV of any value was "On Sale" Not going to liquid a store that way. So I see a TV I am really really interested in. 60" 1080p DLP Samsung. A Beautiful TV. Of course, it was "On Sale" so no discount. Price 1899.99. I leave it there. Go home and hop on best buys website. The exact same tv was $1399.99. And you wonder why your liquidating and going out of business. What a joke! Share this post Link to post Share on other sites
CCTV_Suppliers 0 Posted January 18, 2009 Well, you can not say that they are not trying to go out with a style Few days ago I was checking on some network hardware... Yesterday the pricing was marked up 30% and there was a 30% "discount" signs in the same department... and what really does not make any sense is if they are liquidating, they are still selling the same product at the same price as before and majority of the people do not see it... I saw lines waiting to pay for something they could have bought day before or even month before at the same price... and people thought that they were getting hell of bargain... If they can do this and get away with it, then the public is at fault not being educated on pricing.. We can not blame Circuit City being a corporate failure or the liquidators being court appointed snakes, I blame the general public in luck of knowledge on what they buy. Just because they have "going out of business" sale, it does not constitute a sale, rather form of advertising skim that lures people to believe that they are getting bargains... I was reading some articles about Best Buy, Fyies and others that they stand a chance to survive and take Circuit City customers... Well, they may do that, but as long as the general public does not understand pricing, which most of the time is fixed anyway, then these companies may survive these tough times... OR... may be it is time for the same people to start comparing pricing and find the same products cheaper on the NET.... Share this post Link to post Share on other sites
