Circuit City Stores To Shut This Sunday
By Alan Wolf -- TWICE, 3/5/2009
Richmond, Va. — Circuit City’s liquidators will close all of the chain’s remaining stores this Sunday.
The shutdowns come about a week ahead of schedule and two week earlier than originally planned, as the stores are “basically running out of inventory,” Scott Carpenter, VP of liquidator Great American Group, told The Associated Press.
TWICE confirmed the report with Tiger Capital Group, another of Circuit City’s four liquidators that together sold off some $1.7 billion of inventory in seven weeks.
“Consumers reacted to the top-quality product that they had and the prices we were able to sell it at,” Carpenter said.
Although the last of Circuit City’s stores will close on Sunday, the company’s wind-down process is expected to last two years as a skeleton crew liquidates remaining assets, shuts down remaining businesses and reconciles claims against the corporation.
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In response to STILLINSHOCK, welcome to the cruel world
we live in today. The world of the haves and have not.
As long as we have the same type of people in our
government this will not change. The folks with the
money have the power. Until all the people that are
asleep in America wake up and smell the coffee you
won't see things change. I fear that by the time they
do, it will be way to late. Look around you and you
will see lots of folks going about their day as if
nothing is wrong. They believe everything that is said
by this government and it's puppet media. You know "it
will get better, were the good old USA, we can't lose"
The fact is that the "fat cats" of the world have sold
us down the river and allot of us are too blind to see
it.
Kilroy - 2009-10-3 01:14:00 EDT -
I worked at CC from '97 thru '01. I had a great time, made their Presidents club continually. WOW I will mis her.
John A Smith - 2009-7-3 15:24:00 EST -
Now where am I going to walk around aimlessly looking for product while dutifully being ignored by sales associates? Ah, theres a bb down the road....
Jason - 2009-6-3 18:31:00 EST -
It's happening over and over and over again. The top brass don't suffer. Only the rest of the employees. This is true in every business. Look at the Banking Industry, the car industry, and every other industry out there. Every day we hear the same thing: a large number of people are out of work, yet the brass get their bonuses...even by using the bail out money they begged for! When will this end? Everyone that is in the position to do something is "in on the take". Is it time for a revolution in this country?
stillinshock - 2009-6-3 12:18:00 EST -
You may not have liked the store(s), but remember that it was bad corporate decisions that were the downfall of the company. There are 35,000 people out of a job after Sunday in an economy worse than anyone has seen in our lifetime.
The biggest kick in the balls is that corporate and management get bonuses, while the sales staff on the front line get nothing.
N/A - 2009-5-3 22:56:00 EST
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