To: Circuit City and Best Buy. From: You.

Circuit City to shut down

Court filing shows bankrupt electronics retailer seeks approval to sell merchandise in its remaining 567 stores.


Bankrupt electronics retailer Circuit City Inc. said Friday it has asked for court approval to close its remaining 567 U.S. stores and sell all its merchandise.

The company said it has 34,000 employees.

"We are extremely disappointed by this outcome," James Marcum, acting CEO for Circuit City, said in a statement. "We were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."



More . . .

I went into the circuit city here recently that was closing because they had signs up that said "ALL ITEMS 40% OFF"

I looked at an TV, that sells on NewEgg for $899, at WalMart for $949, and at BestBuy for $1249. At 40% off they still wanted $1599. I ended up getting it at Frys Electronics for $799 during their after xmas sale.

I looked at a mount for the TV, they wanted $159 (40% off price) I picked up the exact same model at Frys Electronics for $59

I looked at the computer power supplies they had there, and almost died laughing when I saw the 450W psu's, selling there at the special 40% off price of only $149. And they were not 80+, no magical fairy dust included with them, just the typical stuff you would find on the bargain shelf at the local mom & pop computer shop for $30. The best psu they had there was a coolermaster 550W for $169.

I'm not surprised they are going out of business,
I'm surprised there were enough customers to keep them in business this long.

It's bad enough that there is nobody there that knows the first things about the stuff they are selling, the service is awful, the products are generally 6 months to a year behind the technology curve (minimum), but combine all that with the prices, and I say so long, I won't miss them.