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Circuit City officially closing its doors

Posted Jan 16, 2009 at 5:43AM EST by QJ Staff

Listed in: News Tags: Best Buy, Circuit City

It's official. Circuit City is now officially six feet under after failing to find a buyer, leaving 30,000 more people unemployed. They will be closing and liquidating their 567 stores across the US.

They filed for bankruptcy last November, and had explored other options to keep itself afloat, but wasn't able to weather the worsening economy and the growing threat of competitor Best Buy.

I feel really sad for them.... is it bad that I'm hoping they'll have a closing sale? Bad Isaac, bad.

Via Herald Tribune

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Store closing sales are a complete ripoff. First they raise the price to an insanely higher level, then they give you 10-15% off. You can go to many other stores and find the same product for less. Even their prices before the closing sale was less. They count on ignorant consumers to say "Hey...look, it's 20% off. Wow!". It's not worth anything until it gets to 60% off and higher. Don't fall for it!!!

# we just have to remember — Rei64 2009-01-16 07:55

the internet is available now. do research on the items you want before you get there...or go to the internet on your phone while your there... i wonder if we can take the adds from circuit city to get them price matched at best buy...hmm

# ... — kerrykerrykerry 2009-01-16 08:19

no, you goof. best buy doesn't match "Going out of business" prices...

# WRONG — SBrown 2009-01-16 08:32

I was among the the first string of Circuit Cities that were let go. What actaully happes is they sell all their inventor and fixtures in a contract with an liquidator. From there, the liqidatators come in and change the prices. What most pple dont know is that all the liqidator does is remove all previous discounts and starts off with a standard % off. However some things we got from certain vendors were cheaper than others so we could sell it for less too. For example. On the first day of the sale TV's go down to ten percent. And you have been looking at a Panasonic TV for a while now and all the sudden the prices jump up a thousand $$$. What just happened is that the tv u were looking at was probably an old model and Circuit City had Big discount on it (like its competetors) to get rid of it. But when the liquidation prices come in all the TV whether new or old go back to their non discounted original price then the 10% off is taken off of it. So for some items, your really not getting a good deal, but for others like an ipod for example or a wii (things that never go below retail price), its nice to save a few penies. So if u want the best price for something ur lookin for, your gonna have to stalk the item every day as the prices drop, cuz people WILL BUY IT FROM UNDER YOUR NOSE. I saw it happen over and over again. I hope this long message cleared up any confusion. If u still have remarks/questions please post them.

# There will be a sale — sylntnyt 2009-01-16 09:37

According to all the sites posting the news, pending court approval the sale will begin this Saturday and go until the end of March, but like SBrown was trying to imply is buyer beware, what seems like a deal might not be much of a deal at all, do your research before buying but don't wait too long because you may miss out

# where service is state of the art... — rollypoly 2009-01-16 10:23

it will be missed, was the first mega electronics supplier in my area :(

# oh well — ov3rkill 2009-01-16 12:24

I guess this is it then. farewell circuit city. then again, there's always the internet. :)

# Screw 'em — urherenow 2009-01-16 13:21

The only good place to shop for electronics is online nowadays. Newegg. TigerDirect. NOBODY can beat those two put together except maybe an ebay auction where people always get ripped off with defective parts and such.

I went to Circuit City 2 weeks ago for the first time in like 8 years and wasn't impressed with a single price in the place!

When Best Buy first came out... I thought it was the shiznit... now it too sucks at most of its prices. I only shop there when things are on sale.

I do feel sorry for all the people who are out of work. But I can't feel sorry for a company name that is a bunch of greedy bastards.

It's a shame people forgot highschool-supply and demand-economics. When you make $60 worth of PROFIT for an item sold, but you only sell 2 a day, common sence should tell you that if you average 20 sales a day while only making $20 PROFIT for that same item... YOU'RE MAKING MORE MONEY BY SELLING IT AT THE LOWER PRICE!

# ... — TheLastGuitarHero 2009-01-16 13:24

I'm more concerned about the jobs. Geez oh man that is all that's in the news anymore. "And 100,000,000,000 more people lost thier job today."

# Hey — ALLOUTKILLA 2009-01-16 14:57

Look at the bright side. We still have Best Buy

# your right — Binary 2009-01-16 16:28

Wal-mart and all retail stores dont have good computer stuff.

If you want amazing deals go with TigerDirect and if tiger doen't have the right price or the right kind. Newegg is the way.

They both carry new or refurbished consoles and games. So I don't have to ***** with Gamestop.

Seriously we have too much retail stores screwing the little guys business's. The only way the little guys can do is sell s-h-i-t on ebay.

Like my town has 2 *****ing wal-marts? WHY 2? Its stupid + a waste of money for good deals for everyone.

I so hate this country now. The instead of high gas prices, they well try to take it out on your f-u-c-king food

Obama better straighten this ***** up!

# oh you mean — Binary 2009-01-16 16:31

The Best Screw You Over Buy?

***** them son of a *****es

# good question — Binary 2009-01-16 16:40

and the answer is probbly no.

They may have signs but it does not tell us if they remove price tag or drop it.

# WHAT! — xXxZEROxXx 2009-01-16 19:36

Where am i going to get my electronics now?

oh right..

# >_> — tanooki 2009-01-16 23:05

First of all selling for cheaper not only sells more but brings in more customers who will BROWSE and possibly buy other stuff too.

Second, Tigerdirect sucks compared to newegg.

Third, Obama is not a fix all solution guys. He doesn't walk into office and a ray of light shines on America and everything is FIXED. No, you give him time and hope he does things right.

# lol — Master Chef 2009-01-16 23:33

I second your second point. NewEgg > Tiger Direct

Also eBay > all for games. Really don't know why you'd go anywhere else. I always get games for 50% or more off retail on there

# newegg is the ***** — gehx75 2009-01-17 02:55

i agree, i buy everything @ newegg

# Eh.. — greymist04 2009-01-17 12:31

It's sad to see another big corporation go down because of our "screw you" economy but...

I never liked Circuit City much anyway, and I usually found better prices and a wider selection at Best Buy...

# LIES! — larz258 2009-01-17 16:57

Best buy can beat Neweggs pricess with there hands behind there back. At least whenever I'm looking to buy.

# err — madskilzs 2009-01-18 06:23

thats a shame

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