Circuit City to liquidate 567 U.S. stores

Circuit City to liquidate 567 U.S. stores
With many of their outlets containing Verizon Wireless kiosks, the news that Circuit City is going to liquidate 567 stores in the U.S. is not good news for Big Red. But when the self-imposed January 16th deadline to find a buyer passed, there was not much else that could be done. Three companies have been hired to wrap things up for the retailer. Had you gone into a Best Buy and a Circuit City store recently, you could see the difference in the number of shoppers and in the quantity and quality of inventory. While being number two and trying harder works for Avis, being number two in the highly competitive consumer electronics retailing business did not work for Circuit City. Because the Verizon kiosks are considered separate from the other electronics sold in the stores, there probably will not be any cellphones offered at fire-sale prices. More than 30,000 employees are affected by this news. In the summer, Blockbuster offered to buy the chain for $1 billion dollars, but later pulled the bid due to market conditions.

source:Yahoo

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6 Comments

1. iff2mastamatt unregistered

I like CC, too bad they aren't doing too well.

2. Big Red

Posts: 101; Member since: Dec 12, 2008

Yeah, they aren't doing too well. The same way dead people aren't doing too well.

3. LessthanZach

Posts: 106; Member since: Apr 29, 2008

I am curious what vzw will do with the employees of these cc kiosks.

4. jporterweb

Posts: 25; Member since: Jan 17, 2009

VZW 'kiosks' inside CC are known as SwaS(Store within a Store). They are actually mini Verizon Wireless stores. They have their own inventory and are fully staffed by Verizon Employees. Basically, those employees will now be treated as were the ones in the previous CC closings. They are going to be systematically reassigned to retail stores based on need and availability. My store in particular got a CC Kiosk employee when the first round of closings happened. So, in essence no job loss and no phone clearance. The same thing happened a few years ago with Home Depot except Verizon just decided to end the Home Depot relationship.

5. Legion

Posts: 397; Member since: Dec 12, 2008

Suprisingly enough there is deals.

6. remixfa

Posts: 14605; Member since: Dec 19, 2008

there was always deals at a CC SWAS, as they use different deals to bring customers to them instead of the full service stores. all the vzw emps retain their jobs and will just be relocated. not a big deal. as far as 2nd place... CC SUCKED. their prices never even go down near their competitions, and even in the last days of the fire sale, there were still things at 50% + off that were more expencive than BB or even amazon.com. they are going out because they chose the quick nickel over the slow dime and people went elsewhere for repeat business.

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