Circuit City Liquidation

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  #1  
Old 01-16-09, 06:14 PM
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Circuit City Liquidation

of the purchase price policy
 
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Old 01-16-09, 06:20 PM
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Be aware! This is not CC having the liquidation, it's the liquidation banks. They often RAISE prices on the products before hand and people think they are getting deals.

I feel horrible for the employees. I worked for CC before getting into the service and loved it there. Those were the days when we made comission, then Best Buy came into the story and CC had to change their work practices.

Just a matter of time before those other guys are in the same position.

But, Obama will fix everything, right?
 
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Old 01-17-09, 06:51 AM
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Depends on your defintion of "fix".

I had been hearing rumors of CC's demise, but they were generally being denied. Guess they wanted to get through the Christmas season. Lot of people to be out of work, but won't be the last business to fail.

I'm wondering why they don't belly up to the government trough for a "bailout".
 
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Old 01-17-09, 07:37 AM
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Interesting article here (CNN).

According to the article, I think I found the reason:
"Bankrupt electronics retailer Circuit City Inc. said Friday it will close its remaining 567 U.S. stores and sell all its merchandise. The company said it has 34,000 employees."

Then, later: "Circuit City also operates about 765 retail stores and dealer outlets in Canada. The company said its Canadian operations, which employ 3,000 workers, will continue to operate."
 
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Old 01-17-09, 09:00 AM
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Hmmm...We have 31000 more employees here in the U.S. then in Canada, but Canada has 200 more stores.....hmmmm

Good reporting right there Rick! lol
 
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Old 01-17-09, 09:19 AM
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Doe's Canadians, dey work harder, ehh?
 
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Old 01-17-09, 09:20 AM
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This is all new news to me!
I visited my home city last week and this explains all the "blowout" deals at one of their stores.

FYI Circuit City in Canada is a franchise operation.
Circuit City stores in Canada were formerly Radio Shack outlets.
A disagreement between Radio Shack and InterTan Corp who is the company that currently has rights to the Circuit City franchise in Canada caused the the Canadian group to switch to Circuit City.
 
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Old 01-17-09, 02:41 PM
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In all seriousness, the 3,000 Canadian employee number quoted in the article means 3,000 work for corporate. As Greg said, many of the 765 are "retail stores and dealer outlets" that are franchised or InterTan. Those employees wouldn't be counted as Circuit City corporate.
 
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Old 01-17-09, 04:26 PM
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Best Buy execs must be dancing in the streets - they're close to being the only game in town now. I saw an article where one of the CC execs said they made the mistake of thinking too much about short term profit, rather than long-term viability. Ooops. Isn't that the American way of doing business, though?
 
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Old 01-17-09, 05:01 PM
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I worked for CC also.I could see it coming for the last few years.Totally bad upper management decisisions.Been watching thier stock for somtime now.
One of thier stores closed here.No good deals unless you knew the manager who could price adjust stuff.
 
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Old 01-18-09, 11:13 AM
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The majority of Canadian stores are smaller mall stores, rather than a big-box type store.
The typically employ maybe 6 people. There are also anumber of affilate stores which are outright independently owned but have deals to use the CC name and carry their line of products.
 
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Old 01-18-09, 08:44 PM
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I lived in the Richmond, VA area for three years (where CC is based) and read all about the horrible management. The CEO getting fired with a huge golden parachute after stocks fell, stores had to close, etc... I'm not surprised.
 
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Old 01-18-09, 09:15 PM
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Cc store closings

I do not work for CC but have been following them pricewise for awhile. They seem to have lost the game early on. Here in the NY area one of their store managers amde a really big FU over a CHRISTMAS return. It made ALL the local papers and CC took a big hit.

I did not find them at all better than the competition which I believe was a corporate decision, especially since they were within one mile of each other here locally.

It boils down to bad management. As another poater said just because they say 30% off doesn't mean anything if their original price was higher!!
 
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Old 01-20-09, 05:12 PM
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My immediate thought was - 30% off what? MSRP? That is no bargain! Now, 30% off their regular sale prices could mean some good deals.

You still need to compare prices to other electronics stores.
 
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Old 01-21-09, 05:46 AM
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You can bet the really good deals are going to get swept up by the employees and thier friends first.
 
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Old 01-21-09, 06:13 AM
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Sure, the young fellow out in the intersection at the mall was holding a 30% off sign.

In the store was a different story: 10% off most all items.

oh, the Monster cables were 30% off (big deal, they should be 80% off)

fred
 
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Old 01-21-09, 10:52 AM
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Cc liquidation

It has been my experience that the liquidators and bulk buyers get first shot and then the public gets the left-overs. Same when incomp went down.
 
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