Full Version: Circuit City Closing
hmmm....i still have a $15 rebate outstanding from them.
when can we expect slashed prices in the remaining stores?
I bet it will be like all the other stores that closed..% to go down slowly over 2 months..with the last week items going from around 60-90%
these liquidation companies are going to have a good year.
these liquidation companies are going to have a good year.
QUOTE (cron @ 1-16-09, 10:27am) 
hmmm....i still have a $15 rebate outstanding from them.
the csr on the phone said that already submitted rebates will get paid out. Not sure if i should believe it.
technically, i think i'm still within the holiday return period...wonder if i can return the item today.
Guess I have one less electronic store to shop with 
QUOTE
Circuit City to liquidate remaining stores
Friday, January 16, 2009
Teresa F. Lindeman, Pittsburgh Post-Gazette
Consumer electronics chain Circuit City Stores plans to liquidate the company's assets, including closing the rest of its stores.
The company filed for bankruptcy protection in November and was looking for other options, including a possible sale. Some stores were closed last year.
"We are extremely disappointed by this outcome," said James A. Marcum, vice chairman, acting president and chief executive officer, in a prepared statement.
"Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited time frame available, and so this is the only possible path for our company," he said.
At the end of last year, Circuit City had more than 560 stores in U.S. markets, including stores in Ross, West Mifflin, Wilkins, Robinson, Monaca and Johnstown, as well as sites in Steubenville and St. Clairsville, Ohio.
The company said liquidation sales could start as early as tomorrow. Sales are expected to wrap up by the end of March.
Store associates are receiving 60 days notice that their jobs will be terminated, according to a company statement. Those who stay on to help with the liquidation will be paid for that service, while those dismissed earlier will receive pay and benefits for the 60-day period beginning today.
Friday, January 16, 2009
Teresa F. Lindeman, Pittsburgh Post-Gazette
Consumer electronics chain Circuit City Stores plans to liquidate the company's assets, including closing the rest of its stores.
The company filed for bankruptcy protection in November and was looking for other options, including a possible sale. Some stores were closed last year.
"We are extremely disappointed by this outcome," said James A. Marcum, vice chairman, acting president and chief executive officer, in a prepared statement.
"Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited time frame available, and so this is the only possible path for our company," he said.
At the end of last year, Circuit City had more than 560 stores in U.S. markets, including stores in Ross, West Mifflin, Wilkins, Robinson, Monaca and Johnstown, as well as sites in Steubenville and St. Clairsville, Ohio.
The company said liquidation sales could start as early as tomorrow. Sales are expected to wrap up by the end of March.
Store associates are receiving 60 days notice that their jobs will be terminated, according to a company statement. Those who stay on to help with the liquidation will be paid for that service, while those dismissed earlier will receive pay and benefits for the 60-day period beginning today.
Article
More info:
The retailer's Web site and call center will cease to operate after Jan. 18.
The company said it will redeem its gift cards through the liquidation sale, but the cards will have no value once the stores are closed.
QUOTE (ka0s @ 1-16-09, 11:27am)
when can we expect slashed prices in the remaining stores?
If recent past liquidations are any indication, never.
liquidation sales are not bargains. usually the liquidation company raise prices and then mark them down.
QUOTE (sarinne @ 1-16-09, 2:24pm)
liquidation sales are not bargains. usually the liquidation company raise prices and then mark them down.
good to know - was hoping to get some deals on the vidya games!
So sad to hear about Circuit City closing. Less competition. All those employees losing their jobs.
http://www.circuitcity.com/closed.html
[quote]
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?
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 PromiseSM 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 closi
http://www.circuitcity.com/closed.html
[quote]
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 PromiseSM 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 closi
Based on stores being closed or a liquidation in the past, I really don't expect a certain percentage of goods to stay and be sold off at a discount. Plus once items get reduce to sales price range, the clueless buy up things, believing its a bargain. Hopefully, the liquidator(s) don't bring in crap and try to con the public.
I would assume everybody knows, posted it anyways
http://www.circuitcity.com/closed.html
where are those stores?
frosh
http://www.circuitcity.com/closed.html
where are those stores?
frosh
There is a CC said to be in Braintree. But for the past 4 years I have never found it. googlemap shows it's in the middle of a highway.
QUOTE (carloscai @ 1-18-09, 12:51pm)
... googlemap shows it's in the middle of a highway.
no wonder they got rolled over
QUOTE (gametalent @ 1-16-09, 1:55pm)
Guess I have one less electronic store to shop with That's the really sad part about this - in many communities, WorstBuy is the only player in town now.
CC made alot of mistakes over the past few years, starting even before they laid off their best employees a couple of years ago. But, IMO, that was the catalyst that set the stage for their ultimate downfall.
Let's see - we're losing money, how do we correct this? Hmmm, let's start by getting rid of our most knowledgeable employees, then we'll insult them by allowing them to reapply for their jobs weeks later at lower, fixed hourly wages with no commissions. That should help with sales.
Morons.
Let's see - we're losing money, how do we correct this? Hmmm, let's start by getting rid of our most knowledgeable employees, then we'll insult them by allowing them to reapply for their jobs weeks later at lower, fixed hourly wages with no commissions. That should help with sales.
Morons.
I stopped into a CC that I was passing yesterday. As expected, no deals to be found. Most items were 10% original prices. There were some at 20% and cables were 30% off (still waaaay over priced for cables).
Most people looked around and walked out with nothing. There were a few people lined up at the single open register. I think they're uninformed consumers and should have gone across the street to Walmart for a better deal.
Most people looked around and walked out with nothing. There were a few people lined up at the single open register. I think they're uninformed consumers and should have gone across the street to Walmart for a better deal.
I guess take this info as perhaps.
http://blogs.moneycentral.msn.com/smartspe...gift-cards.aspx
QUOTE
Time running out on Circuit City gift cards
You've probably read that Circuit City has given up the ghost and is going out of business in the United States. What does that mean to the average consumer?
Plenty, if you have a store credit or gift card.
Cap at Stop Buying Crap wrote a helpful post about what consumers should be aware of before Circuit City permanently closes its U.S. stores at the end of March.
Do you have something to return? You have until Jan. 30 to get that done if it was purchased by Jan. 16. All sales after Jan. 16 are final.
Among his other observations:
Gift cards, store credits. Circuit City will honor them during its going-out-of-business sale.
Rebates. If they were offered by Circuit City and not the manufacturer, you might want to check on the status. Cap says you'll find a phone number or Web site on the rebate form. Manufacturer's rebates won't be affected.
Credit cards. Cap says Circuit City credits cards are administered by Chase, and probably will be converted to a Chase or some other card. "Continue to make payments if you have a balance," he writes.
The liquidation sale is expected to last through the end of March. Be careful when you shop at such sales, and research prices before you go to make sure you're getting a bargain. Cap says, "Liquidators often mark up prices significantly before marking it ‘down' to give appearances of steep discount."
For more on the sale, read HD Guru's post "Circuit City's liquidation sale: Deal or no deal?"
You've probably read that Circuit City has given up the ghost and is going out of business in the United States. What does that mean to the average consumer?
Plenty, if you have a store credit or gift card.
Cap at Stop Buying Crap wrote a helpful post about what consumers should be aware of before Circuit City permanently closes its U.S. stores at the end of March.
Do you have something to return? You have until Jan. 30 to get that done if it was purchased by Jan. 16. All sales after Jan. 16 are final.
Among his other observations:
Gift cards, store credits. Circuit City will honor them during its going-out-of-business sale.
Rebates. If they were offered by Circuit City and not the manufacturer, you might want to check on the status. Cap says you'll find a phone number or Web site on the rebate form. Manufacturer's rebates won't be affected.
Credit cards. Cap says Circuit City credits cards are administered by Chase, and probably will be converted to a Chase or some other card. "Continue to make payments if you have a balance," he writes.
The liquidation sale is expected to last through the end of March. Be careful when you shop at such sales, and research prices before you go to make sure you're getting a bargain. Cap says, "Liquidators often mark up prices significantly before marking it ‘down' to give appearances of steep discount."
For more on the sale, read HD Guru's post "Circuit City's liquidation sale: Deal or no deal?"
http://blogs.moneycentral.msn.com/smartspe...gift-cards.aspx
QUOTE
Thank you for shopping at Circuit City. We have processed your Rebate with Your WEB Purchase
You can expect to receive your reward in the next 5-10 business days.
To check your status of other rebates, go to www.CCityrebates.com
Please be sure to keep a copy of your tracking number for future reference.
Sincerely,
The Rebate Team at Circuit City
You can expect to receive your reward in the next 5-10 business days.
To check your status of other rebates, go to www.CCityrebates.com
Please be sure to keep a copy of your tracking number for future reference.
Sincerely,
The Rebate Team at Circuit City
sweet...guess they came through. glad i don't have to return the item now.
QUOTE (cron @ 1-22-09, 12:56pm)
QUOTE
Thank you for shopping at Circuit City. We have processed your Rebate with Your WEB Purchase
You can expect to receive your reward in the next 5-10 business days.
To check your status of other rebates, go to www.CCityrebates.com
Please be sure to keep a copy of your tracking number for future reference.
Sincerely,
The Rebate Team at Circuit City
You can expect to receive your reward in the next 5-10 business days.
To check your status of other rebates, go to www.CCityrebates.com
Please be sure to keep a copy of your tracking number for future reference.
Sincerely,
The Rebate Team at Circuit City
sweet...guess they came through. glad i don't have to return the item now.
thought they wouldn't end up paying up....but i got a $15 check this week from parago via Circuit City.
wonder if the sale of assets to Tiger Direct gave them enough cash to pay out those other obligations.
Nice little bonus anyways as I had written it off.
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