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.