# Circuit City likey to close remaining U.S. stores and sell all its merchandise. **URL:** \ **Category:** Shift518 Off Topic\ **Created:** [January 16, 2009, 9:29am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413 "2009-01-16T09:29:34Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![RocketPunch](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/rocketpunch/32/6429_2.png) [@RocketPunch](https://forums.speedlife.net/u/RocketPunch)\ **Post date:** [January 16, 2009, 9:29am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/1 "2009-01-16T09:29:34Z")
source: [Circuit City seeking to liquidate - Jan. 16, 2009](http://money.cnn.com/2009/01/16/news/companies/circuit_city/) > Circuit City to shut down > Court filing shows bankrupt electronics retailer seeks approval to sell merchandise in its remaining 567 stores. > > By Parija B. Kavilanz, [CNNMoney.com](http://CNNMoney.com) senior writer > Last Updated: January 16, 2009: 11:42 AM ET > > NEW YORK ([CNNMoney.com](http://CNNMoney.com)) – 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 30,000 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.” > > In a filing with the U.S. Bankruptcy Court for the Eastern District of Virginia, Circuit City - the No. 2 electronics retailer after Best Buy (BBY, Fortune 500) - said it had reached an agreement with four companies to start the liquidation process. > > The company said the sale would begin Saturday and run until March 31, pending court approval. > > “This is very significant. It shows you how bad things are for the the retail industry,” said George Whalin, president and CEO of Retail Management Consultants. > > Whalin said management mistakes over the past few years combined with the recession brought down Circuit City. > > “This company made massive mistakes,” he said, citing a decision to get rid of sales people and other mismanagement. > > What’s more, given the credit market freeze, Whalin added that no manufacturer wants to sell to any retailer who doesn’t have money to pay for the merchandise. > > At the same time, Whalin said there’s still a very slim chance that one or more firms that have expressed an interest in buying Circuit City could still buy it out of bankruptcy over the next few days. > > “I wouldn’t say it’s completely over yet for Circuit City, but it’s almost over,” Whalin said. To top of page > First Published: January 16, 2009: 11:16 AM ET ---
**Author:** ![Alpine](https://avatars.discourse-cdn.com/v4/letter/a/4da419/32.png) [@Alpine](https://forums.speedlife.net/u/Alpine)\ **Post date:** [January 16, 2009, 10:02am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/2 "2009-01-16T10:02:50Z")
Damn… ---
**Author:** ![n\_cole](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/n_cole/32/6382_2.png) [@n\_cole](https://forums.speedlife.net/u/n_cole)\ **Post date:** [January 16, 2009, 10:03am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/3 "2009-01-16T10:03:13Z")
There’s your cheap TV Cossey! ---
**Author:** ![Alpine](https://avatars.discourse-cdn.com/v4/letter/a/4da419/32.png) [@Alpine](https://forums.speedlife.net/u/Alpine)\ **Post date:** [January 16, 2009, 10:21am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/4 "2009-01-16T10:21:28Z")
> [@~\*OFFICIAL Buffalo Sabres Thread\*~](https://forums.speedlife.net/t/official-buffalo-sabres-thread/4208/2315): > > There’s your cheap TV Cossey! :retardclap ---
**Author:** ![OhNoPOPO](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ohnopopo/32/6344_2.png) [@OhNoPOPO](https://forums.speedlife.net/u/OhNoPOPO)\ **Post date:** [January 16, 2009, 10:22am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/5 "2009-01-16T10:22:48Z")
no good cossey ---
**Author:** ![n\_cole](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/n_cole/32/6382_2.png) [@n\_cole](https://forums.speedlife.net/u/n_cole)\ **Post date:** [January 16, 2009, 10:23am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/6 "2009-01-16T10:23:53Z")
When CompUSA went out of business they had crazy deals… Wouldn’t hurt to check it out. ---
**Author:** ![GranMassaX](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/granmassax/32/6299_2.png) [@GranMassaX](https://forums.speedlife.net/u/GranMassaX)\ **Post date:** [January 16, 2009, 10:26am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/7 "2009-01-16T10:26:39Z")
> [@Want to return for a visit...DENIED \*Rant\*](https://forums.speedlife.net/t/want-to-return-for-a-visit-denied-rant/12638/10): > > When CompUSA went out of business they had crazy deals… > > Wouldn’t hurt to check it out. they did? maybe I went there too early, but the second month into their going out of business sale their PCs and TVs were only 10-15% off. WEAK! I swear they had the longest going out of business sale ever. F them in the ass. ---
**Author:** ![Alpine](https://avatars.discourse-cdn.com/v4/letter/a/4da419/32.png) [@Alpine](https://forums.speedlife.net/u/Alpine)\ **Post date:** [January 16, 2009, 10:28am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/8 "2009-01-16T10:28:25Z")
I had an extended warranty through CompUSA when I bought my laptop. Like a week after they went out of business the screen shit the bed on it. So now, that “laptop” is now my desktop. lol ---
**Author:** ![Singh1](https://avatars.discourse-cdn.com/v4/letter/s/ba8739/32.png) [@Singh1](https://forums.speedlife.net/u/Singh1)\ **Post date:** [January 16, 2009, 10:39am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/9 "2009-01-16T10:39:39Z")
yea wil def have to hit up the liquidation sales if possible ! IMO online is where its at for electronics and especially computer hardware, no one wants to go to compusa or circuit city to buy some 20 dollar ram for 80 bucks !!! ---
**Author:** ![Singh1](https://avatars.discourse-cdn.com/v4/letter/s/ba8739/32.png) [@Singh1](https://forums.speedlife.net/u/Singh1)\ **Post date:** [January 16, 2009, 10:40am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/10 "2009-01-16T10:40:38Z")
> [@FS: slicks from my civic](https://forums.speedlife.net/t/fs-slicks-from-my-civic/12640/10): > > they did? maybe I went there too early, but the second month into their going out of business sale their PCs and TVs were only 10-15% off. WEAK! I swear they had the longest going out of business sale ever. F them in the ass. ya they had a very long sale, pretty stupid, and tweeter in crossgates commons had some awesome deals before closing down !!! ---
**Author:** ![Oleg](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/oleg/32/6276_2.png) [@Oleg](https://forums.speedlife.net/u/Oleg)\ **Post date:** [January 16, 2009, 10:47am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/11 "2009-01-16T10:47:25Z")
> [@Want to return for a visit...DENIED \*Rant\*](https://forums.speedlife.net/t/want-to-return-for-a-visit-denied-rant/12638/10): > > When CompUSA went out of business they had crazy deals… You mean crazy shitty deals. They barely marked down anything. ---
**Author:** ![n\_cole](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/n_cole/32/6382_2.png) [@n\_cole](https://forums.speedlife.net/u/n_cole)\ **Post date:** [January 16, 2009, 10:53am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/12 "2009-01-16T10:53:23Z")
I duno when I was there in like the last few days before they closed everything was 50% then another 70% off. Crazy stuff like that. ---
**Author:** ![GranMassaX](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/granmassax/32/6299_2.png) [@GranMassaX](https://forums.speedlife.net/u/GranMassaX)\ **Post date:** [January 16, 2009, 11:00am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/13 "2009-01-16T11:00:03Z")
what was left at that point? Display shelves and staff shirts? ---
**Author:** ![Singh1](https://avatars.discourse-cdn.com/v4/letter/s/ba8739/32.png) [@Singh1](https://forums.speedlife.net/u/Singh1)\ **Post date:** [January 16, 2009, 11:01am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/14 "2009-01-16T11:01:17Z")
Staff shirts LOL ---
**Author:** ![n\_cole](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/n_cole/32/6382_2.png) [@n\_cole](https://forums.speedlife.net/u/n_cole)\ **Post date:** [January 16, 2009, 11:07am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/15 "2009-01-16T11:07:25Z")
> [@Abercrombie dude vs. Small dude](https://forums.speedlife.net/t/abercrombie-dude-vs-small-dude/12646/4): > > what was left at that point? Display shelves and staff shirts? There were definitely still TV’s and computers, DVDs/CDs and such, nothing crazy, but still some stuff worth getting. ---
**Author:** ![GranMassaX](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/granmassax/32/6299_2.png) [@GranMassaX](https://forums.speedlife.net/u/GranMassaX)\ **Post date:** [January 16, 2009, 11:08am UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/16 "2009-01-16T11:08:16Z")
damn, lucky you. ---
**Author:** ![PJB](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/pjb/32/6389_2.png) [@PJB](https://forums.speedlife.net/u/PJB)\ **Post date:** [January 16, 2009, 1:19pm UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/17 "2009-01-16T13:19:23Z")
Circuit City sucks anyway ---
**Author:** ![Ilya](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ilya/32/6404_2.png) [@Ilya](https://forums.speedlife.net/u/Ilya)\ **Post date:** [January 16, 2009, 1:22pm UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/18 "2009-01-16T13:22:32Z")
Hmm…perhaps I can pick up my Kenwood DNX8120 cheaper locally than buying online…hmmm… ---
**Author:** ![tdi\_logik](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tdi_logik/32/6310_2.png) [@tdi\_logik](https://forums.speedlife.net/u/tdi_logik)\ **Post date:** [January 16, 2009, 1:25pm UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/19 "2009-01-16T13:25:17Z")
so does that mean i could get a xbox360 for cheep? ---
**Author:** ![Shawn96VR-4](https://avatars.discourse-cdn.com/v4/letter/s/eada6e/32.png) [@Shawn96VR-4](https://forums.speedlife.net/u/Shawn96VR-4)\ **Post date:** [January 16, 2009, 1:28pm UTC](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413/20 "2009-01-16T13:28:25Z")
Circuit City is done. I heard the CFO on the phone today. They are talking about how to save money on their property taxes. [Next page](https://forums.speedlife.net/t/circuit-city-likey-to-close-remaining-u-s-stores-and-sell-all-its-merchandise/241413.md?page=2)