Circuit City to liquidate remaining US stores

Demon_Skeith

Demon_Skeith

Administrator
Staff member
Administrator
Credits
54,396
Steal Penalty
You're Rich Money Bags Award
Profile Music
Circuit City Stores Inc. says it has reached an agreement with liquidators to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.

The second-biggest electronics retailer in the nation says in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators.

Calls to the Richmond, Va.-based company and the liquidators were not immediately returned.

Circuit City filed for Chapter 11 bankruptcy protection in November. U.S. Bankruptcy Judge Kevin Huennekens gave the company permission to liquidate if a buyout was not achieved.

source

it appears everything is starting to fall apart.
 
The electronics retailer buisness seems to be very competitive, or there are too many low cost stores like Wal-mart, target, best buy that is making non-low cost store fail.
 
QUOTE (froggyboy604 @ January 17, 2009 01:00 am) The electronics retailer buisness seems to be very competitive, or there are too many low cost stores like Wal-mart, target, best buy that is making non-low cost store fail.
best buy is not a cheap store.
 
My dad told me a bit about this over dinner (this is what my dad and I talk about...) he said that like 20,000 people will be out of work, it's unforunate so many companies re closing.

He told me that Rite Aid is probably coming up soon, unless it already has sunk.
 
QUOTE (Demon_Skeith @ January 17, 2009 11:44 am) QUOTE (froggyboy604 @ January 17, 2009 01:00 am) The electronics retailer buisness seems to be very competitive, or there are too many low cost stores like Wal-mart, target, best buy that is making non-low cost store fail.
best buy is not a cheap store.
Best buy have decent prices in Canada compared to other stores, but I think it is because of a lack of competition in Canada .

I heard the States have better discounts then canada.
 
You must log in or register to reply here.
Back
Top