Circuit City to close all 567 U.S. stores

The Prophet

The Prophet

EOG Dedicated
Circuit City to close all U.S. stores

Bankrupt electronics retailer Circuit City said today that it will close all 567 of its U.S. stores, because it couldn't find a buyer for its assets.



No bailout request?
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Timetopay

Timetopay

EOG Master
Re: Circuit City to close all 567 U.S. stores

Guys dont forget no warranties.

Some people who bought extended ones are fucked
 
Doc Mercer

Doc Mercer

EOG Master
Re: Circuit City to close all 567 U.S. stores

Wow ...

great point senor

Thank God I have plenty of beer handy


2009 is gonna be bloody
 
roseman

roseman

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Their Customer Service was probably the worst ive ever experienced. Good stuff though.
 
Hache Man

Hache Man

"Seven Days Without Gambling Makes One Weak"
Re: Circuit City to close all 567 U.S. stores

Their own fault

Should have made a better effort to compete with Best Buy and other cheaper stores.......
 
MikeOswald

MikeOswald

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Sweet, I am in the market for a flat screen in the basement. I will be checking out their site when they get it back up an running
 
Jagermeister

Jagermeister

2
Re: Circuit City to close all 567 U.S. stores

From their website:

Circuit City would like to thank all of the customers who have shopped with us over the past 60 years. Unfortunately, we announced on January 16, 2009, that we are going out of business.
Please check back later for updates about the status of our website. In the meantime, we hope the information below will help answer most of your questions.
What's going on at Circuit City?


  • Due to challenges to our business and the continued bleak economic environment, Circuit City is going out of business and the company's assets will be liquidated to pay off creditors.
  • The process was extremely difficult and we were left with no other choice but to liquidate. Circuit City had a proud heritage of serving the public for 60 years and we deeply regret the impact this decision will have on our associates, our customers and the communities where we have operated stores and other facilities.
  • We had hoped to be able to emerge from Chapter 11 bankruptcy protection as a stronger, more competitive company and we made significant progress during the reorganization to improve our business. Unfortunately, the economic climate is so poor that we have no choice other than liquidation.
  • Liquidators will start arriving in our 567 stores across the U.S. over the weekend, and closing sales will start as early as Saturday, January 17. Closing sales will run as long as it takes to sell existing inventory, but are expected to wrap up by the end of March. When the liquidation sales are completed, the stores will be closed.
  • At the company's corporate offices in Richmond, Virginia, a small staff will remain on duty during the completion of the liquidation process; most associates will be relieved of their duties immediately.
  • Consistent with federal labor laws, Circuit City associates are receiving 60-days notice of the termination of their employment. Those who stay on to help with the liquidation, of course, will receive pay and benefits. Those who are dismissed earlier will be receiving pay and benefits for the 60-day period beginning January 16, 2009.
  • Associates at our company headquarters will be asked to come back on Monday, January 19, to find out more about their status and to retrieve their personal belongings.
Are you also shutting down your operations in Canada?


  • No, our Canadian operations will continue. They are not affected by the liquidation of Circuit City's U.S. operations. The Canadian operations employ approximately 3,000 associates.
How many people are losing their jobs as a result of this action?


  • Circuit City employs approximately 34,000 associates in the U.S.
Can you provide some background on Circuit City?


  • Founded in 1949 as the Wards Company, Circuit City is headquartered in Richmond, Virginia. At the time of the liquidation announcement (January 16, 2009), the company operated 567 stores in 153 media markets in the U.S. and approximately 765 retail stores and dealer outlets in Canada.
  • For a timeline history of the company, go to http://investor.circuitcity.com, and click on Company Information.
Will Circuit City stores continue to accept Circuit City gift cards?


  • Yes, customers holding Circuit City gift cards may redeem them at full value at our stores during the liquidation sales. Once the stores are closed and the company is out of business, the gift cards will have no value.
Are Circuit City's extended warranties affected by the liquidation?


  • No. Circuit City Advantage Protection Plans? (extended warranties) have been backed by third-party independent companies for more than 15 years and as a result, are not impacted by Circuit City's closing.
  • Currently, all Circuit City Advantage Protection Plans are fully backed by the Assurant Solutions companies. Assurant Solutions operates as Federal Warranty Service Corporation, Sureway, Inc., and United Service Protection, Inc. Assurant Solutions is part of Assurant, Inc. (NYSE: AIZ), and its extended service contacts are backed by an Assurant insurance subsidiary rated A "Excellent" by A.M. Best Co.
When will the liquidation sales begin?


  • Liquidation sales begin as early as Saturday, January 17, 2009, and will last as long as it takes to sell through the merchandise at each of the stores. We expect the sales to wrap up by the end of March 2009.
How much will merchandise be marked down, and can customers negotiate prices for the merchandise?


  • There will be clearance pricing, but specific discounts are not being announced. All sale prices are at the discretion of the liquidator. Prices are non-negotiable and all adjustments must be approved by the liquidator's on-site managers.
What payment types will be accepted at the liquidation stores?


  • Stores in liquidation will accept cash, Circuit City gift cards and most credit cards. Personal checks will not be accepted. All sales are final.
Will Circuit City's price matching policy or the One Price Promise<sup>SM</sup> apply during the liquidation sale?


  • Because the liquidation company is in charge of the sales at the closing stores, their policies are in force. So, One Price Promise does not apply during liquidation events, nor does the company's Unbeatable Price Guarantee. All sales are final.
What about returns and refunds?


  • Customers can return products they purchased prior to January 16 for a 14-day period for exchange or refunds. All other terms of return policy are in force.
  • When closing sales begin on or around January 17, 2009, all sales will be final.
Will delivery service be available for products purchased from liquidation stores?


  • No. Unfortunately, we will not be able to provide delivery services for products purchased from liquidation stores.
Will Circuit City offer home theater installations during the closing sale?


  • Yes, we will continue to offer home theater installations during our closing sales.
Will Circuit City offer PC services and repairs at liquidation stores during the closing sale?


  • Services already underway at the liquidation stores will be completed promptly, but no additional jobs will be accepted at these stores.
Will car electronics installations be available at liquidation stores during the closing sale?


  • No new car installations will be offered.
Will Circuit City's extended warranties still be available on products purchased from liquidation stores?


  • Yes, we're making no changes to our Circuit City Advantage Protection Plans?. Coverage is national and purchases will still be protected just as they always were.
  • Circuit City Advantage Protection Plans? have been backed by third-party independent companies for more than 15 years and as a result, are not impacted by Circuit City's bankruptcy or liquidation.
  • Currently, all Circuit City Advantage Protection Plans are fully backed by the Assurant Solutions companies. Assurant Solutions operates as Federal Warranty Service Corporation, Sureway, Inc., and United Service Protection, Inc. Assurant Solutions is part of Assurant, Inc. (NYSE: AIZ), and its extended service contacts are backed by an Assurant insurance subsidiary rated A "Excellent" by A.M. Best Co.
What if a customer purchased products at one of the closing stores and the product needs service?


  • For products covered under the manufacturer's warranty, customers should call the manufacturer.
  • For products covered under Circuit City Advantage?, guests can call the toll-free number that is printed on the bottom of the product receipt.
 
The Prophet

The Prophet

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Good info Jag, I see the website finally returned, thanks.

Now who's going Circuit City "all sales are final" shopping tomorrow?

.
 
Jagermeister

Jagermeister

2
Re: Circuit City to close all 567 U.S. stores

What is a good price on a 42" LG (or similar) TV from them? Stuff like that will go fast.
 
MikeOswald

MikeOswald

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Jagermeister said:
What is a good price on a 42" LG (or similar) TV from them? Stuff like that will go fast.
Click to expand...

$700-$800 for 720p is what they were at, I don't expect to much of a deal though.

What do you guys think 20% off TV's maybe 30% off less expensive items at best.
 
kinosh

kinosh

2
Re: Circuit City to close all 567 U.S. stores

Timetopay said:
Guys dont forget no warranties.

Some people who bought extended ones are fucked
Click to expand...

Not necessarily true. Some manufacturers will honor warranties. And many extended warranties are serviced by third parties, so no worries there. It's important to read the fine print and know what you are getting yourself into BEFORE you purchase.
 
MikeOswald

MikeOswald

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Do you guys think their web site will come back up where I can buy stuff online and pick it up at a local store
 
The Prophet

The Prophet

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Warranties are merely insurance policies sold to the gullible consumer adding no value to the product while increasing the product's cost?if the product requires a warranty it is not worthy of purchase. :pop:


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F

felonee

EOG Veteran
Re: Circuit City to close all 567 U.S. stores

Extended warranties will be fine.....Circuit City was always more expensive than Best Buy.... As for the liquidation sales, the prices are really not all that good...a lot of times they are actually marked up, then discounted... Go to beatmyprice.com to find out what a deal is... It blows that all those guys are gonna lose there jobs.... This was not a unexpected, I read an article that this was going to happen a few days ago..... The article said that Best Buy vs. Wal-Mart will be the next home electronic battleground..... Guess who is gonna win that one..... Wal-Mart is also shitting bricks because their Europeon equivilent is coming to the US (I can't remember the name) and they are beating their ass in Europe...
 
W

Whoson1st

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Customer Service

2 years ago (just a little over); I went to Circuit City to buy my 2nd only computer in a lifetime, having bought my first one there more than 9 yeras ago now. Walked arounf 20 minutes and not one soul approached to help me.
Went across the street to Best Buy and it still took about 15 minutes before a salesperson offered to help me. I needed all the help I could get. Needless to say--I bought at BBuy (who has equally as bad customer service)

India probably doing very well however!
 
Bagiant

Bagiant

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

They've already closed the store near me. Just 3 weeks ago.
 
ChuteBoxe

ChuteBoxe

EOG Master
Re: Circuit City to close all 567 U.S. stores

Damn, maybe I can get that newer Panasonic 58" Plasma I wanted for cheap.
 
W

Whoson1st

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

The US is TOP HEAVY at most all levels.
Banking is one I would think very much so ! That's why the economy is what it is.
Too many people doing little or nothing, but they have a title!
 
janus

janus

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

Whoson1st said:
The US is TOP HEAVY at most all levels.
Banking is one I would think very much so ! That's why the economy is what it is.
Too many people doing little or nothing, but they have a title!
Click to expand...

cmon man... do you really consider it doing nothing when a union guy earning $80 per hour to pull a lever spends 3/4 of his workday on the internet forums bitching about scumbags who dont buy american?

we're the hardest working, smartest, richest, fittest nation on the planet! my fifth grade teacher said so! (that was after she'd just fucked her junior high boyfriend, so her opinion mighta been skewed).
 
W

Whoson1st

EOG Dedicated
Re: Circuit City to close all 567 U.S. stores

It's in all areas. A few weeks ago; I watched a Verizon repair team or whatever today's term is .... One guy was working up on the telephone pole. Three guys watched him on from the ground!
Telephone taxes never end .
 
M

money

EOG Enthusiast
Re: Circuit City to close all 567 U.S. stores

Circuit city has always been too expensive for me. Anything that they sold I could always find for less somewhere else. It's a shame though that so many people are going to lose their jobs.

As for buying American, Ive always owned Cars made by Chrysler, Plymouth or Dodge. I have very good credit and have paid off many cars.
Yesterday, I walked into a Dodge dealership to inquire about buying a 2009 Dodge Challenger. They acted like they wanted to keep their cars on the lot. They weren't willing to bargain on anything and every time I would ask them what insentives they had they would look at me like I was a beggar and wouldn't answer my question. So they can keep their car. If they keep treating potential customers the way that I was treated they will soon be going out of business.

money
 
4625

4625

2
Re: Circuit City to close all 567 U.S. stores

I haven't bought anything from Circuit City since I met Best Buy. I haven't bought anything from Best Buy since I met Fry's. Those that can't compete, will surely fall during the next few quarters. Unless you are a bank, automaker, or some other industry with paid-for legislators, the market can be very cruel. . .
 
FairWarning

FairWarning

Bells Beer Connoisseur
Re: Circuit City to close all 567 U.S. stores

money said:
Circuit city has always been too expensive for me. Anything that they sold I could always find for less somewhere else. It's a shame though that so many people are going to lose their jobs.

As for buying American, Ive always owned Cars made by Chrysler, Plymouth or Dodge. I have very good credit and have paid off many cars.
Yesterday, I walked into a Dodge dealership to inquire about buying a 2009 Dodge Challenger. They acted like they wanted to keep their cars on the lot. They weren't willing to bargain on anything and every time I would ask them what insentives they had they would look at me like I was a beggar and wouldn't answer my question. So they can keep their car. If they keep treating potential customers the way that I was treated they will soon be going out of business.

money
Click to expand...

Dodge just got bailout money this week and will have a 0% deal, so hang in there.
 
trytrytry

trytrytry

All I do is trytrytry
Re: Circuit City to close all 567 U.S. stores

60 years> what did they sell 60 years ago steamboats
 
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