Goodbye, Circuit City.

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US electronics retailer Circuit City is to close after failing to reach a deal with its creditors and lenders, with the loss of 30,000 jobs.

Liquidators will now sell off the firm's assets. The announcement comes two months after the firm was forced to seek bankruptcy protection.

Some 567 Circuit City stores will now shut for the last time. About 155 stores had already closed in December.

Circuit City vice chairman James Marcum said the decision was "regrettable".

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I don't really care... but I thought some of you might. Never really bought from them. d:

Source: http://www.maxconsole.net/?mode=news&newsid=35134

it makes me sad, never good when a company goes out of business and 30,000 people lose their jobs. Plus around me they used to compete with Best Buy and now Best Buy has the majority of the market. I'm going to stop by the store tomorrow to see if I can get a good deal on anything. Still sad because Circuit City was in my town before Best Buy.

You were a good store while it lasted. /salutes

Meh. It was just an okay store. Nothing particularly special about it. Prices, service, selection, etc, all of it was okay (in a good way), but that's it. Best Buy just wanted to be better and beat them out. ...And so they did. Even if Best Buy's prices are hardly exceptional as they are.

I just hope Best Buy doesn't take this competition reduction as a license to take out the stops.

This reminds me...does anyone remember CompUSA and how much they sucked?

They're still here in Australia... Why? Aren't they there in the US anymore? Circuit City isn't in Aus so I couldn't care less but when I was on my trip to America a few weeks ago I really liked it.

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Originally Posted by LittleBigMe

They're still here in Australia... Why? Aren't they there in the US anymore? Circuit City isn't in Aus so I couldn't care less but when I was on my trip to America a few weeks ago I really liked it.

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Our economic system forces businesses to compete against one another. This causes products to be better, as long as we prevent monopolies, but when a company is doing a crappy job and/or not making a profit, they might go into debt. They can then file for something called bankruptcy or go bankrupt. If they go into bankruptcy, they will try to pay off the debt and reorganizing. If a company cannot pay off it's debts, it gets shut down. Such is the case with Circuit City.

...

That's my crappy, minimalist version of it anyway.

And the majority of those jobs are going nowhere, because other companies will buy them out.

Goodbye circut city, You have been an awesome store and i will miss you (the only and best thing about stores closing is that you can get really good clearence sales :p)

I will miss these guys

Cheers

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Originally Posted by RAINFIRE

Goodbye circut city, You have been an awesome store and i will miss you (the only and best thing about stores closing is that you can get really good clearence sales :p)

I will miss these guys

Cheers

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HA! You didn't hear? When they closed down a bunch of stores before this in an attempt to save money, the actually didn't lower any prices. All prices were either the same and some prices were higher than usual. Circuit City just made terrible business choices and it's their fault that they are going under. The more educated general public doesn't (and should'nt) trust them. A while back they fired EVERY experienced employee and hired completely clueless employees for much less. Becuase they did this all at the same time, the media got wind of it and they lost a lot of business. They've done numerous other things (not honoring special deals, terrible customer service, etc.) and I'm sad that people are losing their jobs but it was all corporates fault.

yeah circuit city will be missed by some but hey there are other stores to buy computer parts and etc...from so no worries really...the one that closed near us really did drop their prices big time so it was worth it in a way, if you had the money when they did it that is.....:)

nooo im so sad they are closing! there was one right by my house!
They had lots of cheap ps2 games that i liked to buy every now and then

Never heard of it...>.> all HAIL New Zealand