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Circuit City is liquidating the rest of its U.S. stores
Another day, another piece of bad news coming from a major U.S. electronics retailer. This time, it’s Circuit City singing the blues.
The retailer reached an agreement to liquidate the merchandise of its 567 remaining U.S. stores, the Associated Press is reporting. The company 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, according to the AP.
Last month came with the ultimate end to Tweeter, complete with a web-hacked finger-flipping by disgruntled ex-workers as the exclamation point.
Richmond, Va-based Circuit City has 30,000 employees apparently getting the news today at its 567 stores, which had been pared down by 155 store closings recently—which was followed soon after with Chapter 11 bankruptcy filing.
No word on a timeline, so we’ll update when we hear more on the liquidation process. Read the full press release here.
Awful deals and they think 10% off their normal marked up prices before they put everything on sale is a deal. Oh and ALL SALES ARE FINAL!! NO RETURNS for any reason. Boo to anyone out there that goes and get anything other than basics from these clowns who are liquidating these stores. They need to go down to 30% before it starts to make sense. Literally walked over to Walmart and found stuff less than the CC 10% off price. Not by that much more, but seriously how is the public supposed to seriously look at this as a liquidation and not out and out fraud. Don’t believe the hype until they go down to the bare bones. Wait the two or three weeks and let them get serious before spending your hard earned bucks on a ridculous ploy on scamming the public. I have purchase a lot of items from CC in the past at very good deals. This is very disappointing that on their way out the liquidators end up making a profit. To add insult to injury there is a guy outside in the entrance to parking lot holding up a 30% of sign. On what batteries? Please wait for the real deals!!!
I am sad to hear about another store going under. However, I am not surprised at all. I went in to my local CC with my family recently. I don’t think we would have gotten service if we were on fire.
It’s not the first time or first location I have ever encountered that at CC—not even the fifth. And the stores are always packed with employees.
I just hope they don’t have the same lame deals that Tweeter was offering…
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Well we can all hope that their stuff gets disseminated/sold to resellers who’ll have the BDs/HDDVDs on Amazon for cheap, cheap, cheap!!!