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More depressing economic news: Circuit City shutting 155 stores, to lay off thousands

Posted Nov 3, 2008 at 7:30AM EST by QJ Staff

Listed in: News Tags: Circuit City

Circuit City To Close 155 Stores, Lay Off Thousands - Image 1

The ever-tightening economy has sunk its claws into another victim in the entertainment industry.

Circuit City, the second largest consumer electronics chain in the US, will be closing 155 of its stores, laying off thousands of employees in the process.

That just sucks. And not that far to Thanksgiving too.

According to their press release, the stores will close as early as Tuesday, and liquidation sales will begin Wednesday. They also state that they will be constricting new store openings. At least 10 branches that were expected to open will not open after all.

Via Circuit City

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Radio shack was not a really popular store in canada anyway. It used to be "the" electonics store to go to. But over the years there little 10X10 cubby hole for a store just could not fit enough stuff in, and so they had to charge 15% MORE on everything than any other store in the same mall. So sales were down.

This was ALL before CC even bought them. I am not surprised to hear that they are shutting the doors on so many places. I feel for the people who worked there though. I would hate to find out that my company was just shutting its doors like that.

# CCity — SBrown 2008-11-03 11:31

The new stores (called "The City" instead of "Circuit City") that they opened utilized a new marketing strategy. They were supposed to be the saviors of the Circuit City enterprise, but the economy sucked too bad, so they are cutting back on the stores that are or will potentially hold them back.

# This sucks — SBrown 2008-11-03 11:34

I actually work at one of the CCities that are closing and this really sucks, because the new store (called "The City") was so much better than Best Buy and it was really fun to work there. But I guess that I'm just another number in the large population that are affected by this horrible economy crisis.

# List of Stores Closing — Dartan 2008-11-03 11:47

Here's a list of closing stores...

http://files.shareholder.com/downloads/CC/455906702x0x245809/2BFAC9D9-6CEF-4027-9E51-1C635F42F7A7/110308%20Store%20Closing%20List.pdf

# . — p0op 2008-11-03 16:57

Yeah, I work at Circuit City. Fortunately, for now, not one of the ones that will be closing. Anyways, the reason the company is doing so bad is due to bad management. People complain about service and quality of the stores they visit, but those are only local events. There are some really good, honest people who work for Circuit City that will be losing their jobs soon thanks to a greedy upper management.

# For Now — jacobian91 2008-11-03 18:37

I would make sure you have something solid to fall into incase ur store is closed.

This really does suck for alot of people. But, to be honest, I don't like Circuit City. Best Buy is my fav.

# wouldnt say better... — kerrykerrykerry 2008-11-04 06:45

circuit city actually hired the man that came up with best buy's system of handling customers and in-store interactions. He pretty much tried to make circuit city into a copy of best buy, but with "improvements" he came up with. So you may say "the city" is better than best buy, when it is actually best buy in a red shirt?

and circuit city's problem is not due to the economy. It's due to the retards running it, and totally sucking with their monies :-/ Circuit city would still be closing stores even if the economy was booming, maybe not as many stores, but still...

# BBy — Jasper1605 2008-11-04 08:22

I just got hired into best buy about a month ago: I'm loving it there. But it is sad to hear about the rapid closings because of the people that are losing jobs. But then again, every time I went to a circuit city near me there were maybe 4 employees in the entire store and they never answered the phone. If CC gave better customer service they'd still be in business. I'm in home theater and have on average 5k in sales every day I work (which isn't that many but how can I when I'm a full-time student too? lol) so it's not like income just stopped coming. This has been a long time in the making

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