DAT 190% GOING OUT OF BUSINESS.

1/16/2009 12:33:57 PM

just stop

1/16/2009 12:34:28 PM

I love 190% discounts! Sure you can pay me to take that stuff of your hands!

1/16/2009 12:34:52 PM

sucks for some of my friends who are about to be unemployed

1/16/2009 12:35:33 PM

They are not. Who is going to compete with Best Buy. Hhgreg? Haha, but really they better not fold, they are way better than Best Buy or any other electronics retailer. Best Buy is evil, I guess that's why they are still doing good.

1/16/2009 12:35:52 PM

Quote :

"Circuit City to liquidate remaining US stores By MICHAEL FELBERBAUM and VINNEE TONG AP Business Writers Posted: Today at 10:45 a.m. Updated: 18 minutes ago Bankrupt Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, said Friday it failed to find a buyer and will liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed. "This is the only possible path for our company," James A. Marcum, acting chief executive, said in a statement. "We are extremely disappointed by this outcome." The company had been seeking a buyer or a deal to refinance its debt, but the hobbled credit market and consumer worries proved insurmountable. The liquidation of Circuit City is the latest fallout from the worst holiday shopping season in four decases. People have slashed their spending since the financial meltdown in September as they worry about their job security and declining retirement funds. Other recent casualties include KB Toys, which filed for bankruptcy in December and is liquidating stores. Department store chains Goody's Family Clothing and Gottschalks Inc. both filed for bankruptcy this week - Goody's plans to liquidate, while Gottschalks hopes to reorganize. Industry experts expect more bad news in the coming months as spending likely will deteriorate further. Circuit City said in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators. "Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders," Marcum said. Shareholders are likely to receive nothing, as is typical in bankruptcy cases. It was unclear what would happen to the company's 765 retail stores and dealer outlets in Canada. "Very, very sad," said Alan L. Wurtzel, the son of company founder Samuel S. Wurtzel, and the chief executive from 1972 to 1986, board chairman from 1986 to 1994 and vice chairman until 2001. "I feel particularly badly for the people are employed or until recently were employed." Wurtzel has previously said Circuit City didn't take the threat of rival Best Buy Co. seriously enough and, at some points, were too focused on making a profit in the short term instead of building long-term value. Circuit City filed for Chapter 11 bankruptcy protection in November as vendors started to restrict the flow of merchandise ahead of the busy holiday shopping season. It had been exploring strategic alternatives since May, when it opened its books to Blockbuster Inc. The Dallas-based movie-rental chain made a takeover bid of more than $1 billion with plans to create a 9,300-store chain to sell electronic gadgets and rent movies and games. Blockbuster withdrew the bid in July because of market conditions. Circuit City, which said it had $3.4 billion in assets and $2.32 billion in liabilities as of Aug. 31, said in its initial filings that it planned to emerge from court protection in the first half of this year. Under court protection, Circuit City has broken 150 leases at locations where it no longer operates stores. The company already closed 155 stores in the U.S. in November and December. U.S. Bankruptcy Judge Kevin Huennekens had given the company permission to liquidate if a buyout was not achieved. The company still needs final approval of a liquidation from the court. The liquidation is the latest big blow to the nation's malls, which have suffered from a rise in vacancies as a slew of chains from Mervyns LLC to Linens 'N Things have liquidated. But analysts say that the demise of Circuit City, whose stores range in size from 20,000 to 25,000 square feet, will hurt the fortunes of mall operators even more. "It will bring to market a glut of big box spaces across the country," said John Bemis, head of Jones Lang LaSalle Inc.'s retail leasing team. "It will have one of the largest impacts on big box real estate across the country.""

[Edited on January 16, 2009 at 12:37 PM. Reason : ]

1/16/2009 12:36:50 PM

I got the memo, but I will believe it when I see it.

1/16/2009 12:37:41 PM

^^^ 190% correct, I worked for best buy and they can blow my dick. Hated it...they are greedy motherfuckers.

[Edited on January 16, 2009 at 12:38 PM. Reason : j]

1/16/2009 12:38:12 PM

Maybe I can find a banging TV on the cheap.

1/16/2009 12:41:29 PM

welcome to circuit city, where service is state of the art

1/16/2009 12:41:59 PM

Man if they fold I will lobby against BB. They are that much better.

1/16/2009 12:42:38 PM

Circuit City commercials are some of the earliest ones I remember.

1/16/2009 12:43:00 PM

that last, oh, dozen times I've been to circuit city, I've stood in front of product for like 45 minutes without having a fucking soul approach me. at least 5-6 times, I've gone to grab a lazy fuck at the register or return desk to come talk to me about various shit. 3-4 of those times, they were like, "um I don't know this department, but I can try to help"

goodbye, circuit city.

service is state of the fucking fart

and yeah when should we expect the monster fucking sales???

also, does this mean my circuit city charge account is paid off??

[Edited on January 16, 2009 at 12:46 PM. Reason : ffff]

1/16/2009 12:45:56 PM

1/16/2009 12:46:04 PM

I will sacrifice a chicken to gods in the name of CC. Have no fear folks AIN'T SHIT SHUTTING DOWN UNLESS I SAY SO.

1/16/2009 12:46:59 PM

Quote :

"WHITE VAN SCAMS"

will now increase

1/16/2009 12:50:17 PM

Maybe they will have various crappy electronics instead of just crappy speakers.

1/16/2009 12:51:37 PM

this makes me sad...best buy sucks donkey balls and i think i'd rather shop anywhere by hhgregg

circuit city, i shall miss you

1/16/2009 12:52:21 PM

I am just pissed because I have an account with CC, and they always have interest-free offers. Goddamnit.

1/16/2009 12:52:45 PM

1/16/2009 12:53:37 PM

blah blah blah

is this an exercise in hating the "big" guy (best buy)?

cause over the past 10-12 years, I've ALWAYS had better service at best buy than circuit city.

and I'm a fucking electronics junkie. I probably go to each place, on average, about 50 times per year.

1/16/2009 12:54:33 PM

i think out of all the electronic outlets SEARS has to be the worse

1/16/2009 12:54:45 PM

^^ Me too. One of my peeves with BB is annoying floor people asking me do I need help. If I need it I will summon it. I am not a 50 year-old that looks clueless, OK?

[Edited on January 16, 2009 at 12:56 PM. Reason : /]

1/16/2009 12:56:28 PM

dead serious. i haven't had even decent help at circuit city in probably 5-6 years. and that was at one in Norfolk, VA.

1/16/2009 12:58:11 PM

The ones here are good to me.

1/16/2009 12:59:27 PM

I never liked CC. Best Buy has always been good to me

1/16/2009 1:03:06 PM

Whichever of the two had the lowest prices on what I was looking for that day was all I cared about.

Since they both had in-store pickup I always just used that.

1/16/2009 1:04:06 PM

BB will advertise games on their website for 10, like Ninja Gaiden II, then when you go in the store the workers think you are crazy when you ask about it, because they have heard nothing of it, so they say.

1/16/2009 1:04:57 PM

Easy to tell who in this thread doesn't read consumerist, and who should.

1/16/2009 1:07:42 PM

It easy to tell who in thread actually buys electronics and who doesn't.

1/16/2009 1:08:28 PM

Irrelevant.

1/16/2009 1:09:29 PM

Reading shit is nothing versus actually using these places, having accounts with them both.

1/16/2009 1:10:58 PM

Quote :

"Reading shit is nothing versus actually using these places, having accounts with them both."

Bullshit:

Quote :

"BB will advertise games on their website for 10, like Ninja Gaiden II, then when you go in the store the workers think you are crazy when you ask about it, because they have heard nothing of it, so they say."

this is why.

Quote :

"and yeah when should we expect the monster fucking sales???"

Don't

[Edited on January 16, 2009 at 1:13 PM. Reason : as]

1/16/2009 1:13:27 PM

Yah, I couldn't begin to put into words on paper the anger I've experienced at the hands of both establishments.

1/16/2009 1:13:38 PM

i actually agree that the service at CC is kinda suck-ass in the last 10 years or so... they do have much better prices than BB most of the time, sometimes even better than online, that's where i got my tv for $100 more than online (not including shipping or the pain in the ass that shipping entails)

this does make me glad i never went for the extended warrentee on it though...

sigh, honestly CC should just massively downsize down to smaller stores that can be located in more areas with smaller staffs and much increased personal attention, shit even have seperate desks inside for online / expansive catalog perusal with sales opinion and delivery or pickup at the store options... but I digress.

[Edited on January 16, 2009 at 1:14 PM. Reason : s]

1/16/2009 1:13:42 PM

^^^ What?

Excuse if I seem stupid here, but what are you trying to say? Just say it.

[Edited on January 16, 2009 at 1:14 PM. Reason : /]

1/16/2009 1:14:07 PM

CC sucks. I have never had any sort of customer service at circuit city. They don't even pretend like they give a shit about your business. That's why, now when people are not spending money, they are going out of business and no one wants to buy them or help them deal out of their debts.

All across the world people say, "Good riddance."

1/16/2009 1:14:12 PM

the liquidation sale starts tomorrow.

1/16/2009 1:15:34 PM

Quote :

"BB will advertise games on their website for 10, like Ninja Gaiden II, then when you go in the store the workers think you are crazy when you ask about it, because they have heard nothing of it, so they say."

You call this bullshit when I walked in the store 4 days ago and this happened?

1/16/2009 1:15:47 PM

^ I have never had an issue with that. I have gone in numerous times and said that something was cheaper online and they ring it up for that price. Sometimes I wonder if they even check it.

1/16/2009 1:26:51 PM

i used to work for BB and that place is a shit hole. service has gone down at CC because they have moved away from a commission based model with the people on the floor. there was a time and place when you couldn't walk through CC just to look without being hounded a few 1000 times.

i honestly hope BB fails too.

1/16/2009 1:38:05 PM

bb can fuck themselves and i refuse to shop there after my epic "our warranty contracts can change without warning and we'll refuse to uphold the original contract you signed if we've updated the way we do things" fiasco of 2008

short end of the story, even though what they did to me was illegal it wasnt worth the fight for a $180 part, and after 3 months without a tv i gave up

1/16/2009 1:39:54 PM

All I want to know is my account going to be closed with it paid in full if bankruptcy bails them out? Anyone here with experience on this?

1/16/2009 1:44:11 PM

so i can get cheap shit at CC tomorrow?

I'm Big Business and i approved this message

1/16/2009 1:44:18 PM

Goddamn man get out of here with that shit.

1/16/2009 1:45:32 PM

1/16/2009 1:57:05 PM

AdBlock FTW.

1/16/2009 1:58:54 PM

Per ambrosia's article post (from november)

Quote :

"Liquidation sales on $300 million worth of inventory that began yesterday at 154 Circuit City stores are being conducted by Hilco Merchant Resources and Gordon Brothers Retail Partners, a government filing shows."

per today's article

Quote :

"Circuit City said in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators."

so how is it that they won't lower prices, they're not using the same liquidators?

Quote :

"All I want to know is my account going to be closed with it paid in full if bankruptcy bails them out? Anyone here with experience on this?"

I'm sure some bank or something will buy their credit from them and you'll still have to pay it. Nice try though.


oh and I was harassed by the white van today.

[Edited on January 16, 2009 at 2:08 PM. Reason : .]

1/16/2009 2:03:02 PM

I"D LIKE TO PUT THIS ON LAY-AWAY

I'm Big Business and i approved this message

1/16/2009 2:07:48 PM

set em up

1/16/2009 2:08:16 PM