The End of Circuit City
Gizmodo has a few pictures of the last day of Circuit City. Inside? Nothing but fixtures that were apparently sold to a local Best Buy store. I bet Best Buy employees get free cake today. Mmmm, cake.
Circuit City Files For Bankruptcy
I really don’t see much of a future for Circuit City. If it’s filing for Chapter 11 bankruptcy, replacing CEOs, closing stores and losing cash, explain to me how the company is supposed to survive. Says Bloomberg:
On Sept. 29, Circuit City reported a loss of $239.2 million that was more than triple from a year earlier after sales fell for the sixth straight quarter.
The end is near for Circuit City. I’m guessing that by 2010, the company will fold completely and this part of our lives will be over and several thousand people will be out of jobs. Blame the economy and shitty customer service is what I thinks.
Beat A Dead Horse: Circuit City Closing 155 Stores
Best Buy sucks but Circuit City has fucked up so bad in the past five years, that it now has to close 155 stores. An official letter got sent over to Consumerist today, detailing the arrangement. Employees will not be getting any severance either, it seems. With its stock trading under $1 at many times, Circuit City has got to act quick to save itself. A merger with another struggling company could work, but to be honest, I just don’t see Best Buy’s main “competitor” healing from these wounds.
What about you? Do you even go to Circuit City for your gadgets and technology-related junk?