Circuit City is Liquidating….So Long
Circuit City is finished after filing for bankruptcy just before the holiday shopping season. This means there’s one less place to buy notebooks and 30,000 people will soon be out of work.
While Circuit City is one of my least favorite computer retailers it’s always good to have competition. In a lot of towns Best Buy will be the only choice.
Here’s the full press release from Circuit City.
RICHMOND, Va., Jan 16, 2009 /PRNewswire-FirstCall via COMTEX News Network/ — Circuit City Stores, Inc. announced today that it will seek Bankruptcy Court approval to begin the process to liquidate the assets of the company.
“We are extremely disappointed by this outcome. The company had been in continuous negotiations regarding a going concern transaction. 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 timeframe available, and so this is the only possible path for our company,” said James A. Marcum, vice chairman and acting president and chief executive officer for Circuit City Stores, Inc.
Circuit City will provide more details in the near term about the plans for the liquidation of the stores and other assets, the status of the company’s Web site and firedogSM services operations, the status of its Canadian operations and plans for the company’s bankruptcy proceedings.
The company does not anticipate any value will remain from the bankruptcy estate for the holders of the company’s common equity, although this will be determined in the continuing bankruptcy proceedings.
The company filed for Chapter 11 bankruptcy protection in November 2008. The case number for Circuit City’s Chapter 11 filing is 08-35653. Additional information can be found by visiting the company’s investor information home page at http://investor.circuitcity.com and clicking on “Breaking News” and at the Claims Agent’s Web site at www.kccllc.net/circuitcity.
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just got few questions, so what happens with all the credit purchases with circuit city card? and how about the warranty that was purchased through them? will they still be valid or not? I really kinda see this coming.
if you are reading this i would say check for prices online first befor rushing in to grab what you think is a deal, it migh not be. they might jack up the price and then give you 30% off. watch out.
You’re on the hook for Circuit City purchases. The warranties are actually serviced by another company sot they’re still valid. Circuit City’s closing prices are still pretty lame compared to what you’ll find online. Wait for another few weeks and you’l see the Circuit City 30% off ads go to more like 40%-%60.
You’re on the hook for Circuit City purchases. The warranties are actually serviced by another company sot they’re still valid. Circuit City’s closing prices are still pretty lame compared to what you’ll find online. Wait for another few weeks and you’l see the Circuit City 30% off ads go to more like 40%-%60.
just got few questions, so what happens with all the credit purchases with circuit city card? and how about the warranty that was purchased through them? will they still be valid or not? I really kinda see this coming.
if you are reading this i would say check for prices online first befor rushing in to grab what you think is a deal, it migh not be. they might jack up the price and then give you 30% off. watch out.
just got few questions, so what happens with all the credit purchases with circuit city card? and how about the warranty that was purchased through them? will they still be valid or not? I really kinda see this coming.
if you are reading this i would say check for prices online first befor rushing in to grab what you think is a deal, it migh not be. they might jack up the price and then give you 30% off. watch out.
You’re on the hook for Circuit City purchases. The warranties are actually serviced by another company sot they’re still valid. Circuit City’s closing prices are still pretty lame compared to what you’ll find online. Wait for another few weeks and you’l see the Circuit City 30% off ads go to more like 40%-%60.
So what will happen to the credit card holders?
So what will happen to the credit card holders?
So what will happen to the credit card holders?
I bougth two electronic (22″tv & ipod) my ipod is not work any more , I returned and I recived a gift card .this car acan spended so I need help to recived my money back or with my account(credit card) CAN HELP ME
I bougth two electronic (22″tv & ipod) my ipod is not work any more , I returned and I recived a gift card .this car acan spended so I need help to recived my money back or with my account(credit card) CAN HELP ME
I bougth two electronic (22″tv & ipod) my ipod is not work any more , I returned and I recived a gift card .this car acan spended so I need help to recived my money back or with my account(credit card) CAN HELP ME