NEW YORK (MarketWatch) -- After failing to secure financing from creditors and lenders, bankrupt electronics vendor Circuit City Stores Inc. said Friday that it will liquidate, joining the list of retailers like Linens 'n Things that are closing up shop due to the economic downturn.
http://www.marketwatch.com/news/story/circuit-city-liquidate-adding-us/story.aspx?guid={C302D694-4EF3-42FA-BBF0-A11450A5209C}&dist=msr_1
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This is bad, but not entirely unexpected. It's just the cycle of the retail business.
ReplyDeleteI worked for Service Merchandise back when Circuit City first came to town, and remember them devastating our electronic sales.
You can count on something new and exciting taking over every few decades. Remember when K-mart was all the rage? I just wonder who has Wal-Mart in their sights?
This is not the normal cycle of retail business at all. This is directly linked to the economy of today. This is the worst depression that MOST of us have ever seen, the stores will start dropping like flies soon. This has nothing to do with being competative in your market.
ReplyDeleteI was wondering when this would happen. Last week I was in Circuit city and while their TVs looked fully stocked, the computer section was pretty much empty - it was obvious that they had not been getting new stock in some time.
ReplyDeleteI have to agree with is being part of the cycle of retail business.
ReplyDeleteRemember when we had 2 big box office supply stores (Staples & Office Max)? Then OM went out and we were left with only staples. However, if you buy from Reliable, they sell Office Max products.
Big ones come and go. It's just sad that all the big ones took out little ones (mom & pops) to get where they have gotten.
I really never liked CS but I like Best Buy even less.
CS should have been CC in 3:35 comment.
ReplyDeletedarn...you'd think I worked at DT's! (I really don't)
Didn't proofread.....sorry.
This is day two of the bankruptcy liquidation auction.
ReplyDeleteIt should be interesting to see if the inventory is purchased as a whole or chopped up by the store.
it won't break my heart. they only hire the handicapped.(if you know what I mean) Lowes employees are more knowledgable.
ReplyDelete