Uh-oh!
From their page: http://www.circuitcity.com/ccd/lookL...d=homepage_FAQ
New news (thx 2 budah): Here ya go!
OLD news:
http://investor.circuitcity.com/rele...leaseID=344747
From their page: http://www.circuitcity.com/ccd/lookL...d=homepage_FAQ
New news (thx 2 budah): Here ya go!
OLD news:
http://investor.circuitcity.com/rele...leaseID=344747
Quote:
RICHMOND, Va., Nov 03, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Circuit City Stores, Inc. (NYSE: CC) today provided an update on its liquidity position and its previously announced ongoing comprehensive business review. Due in part to its deteriorating liquidity position and the continued weak macroeconomic environment, the company has decided to take certain restructuring actions immediately, including closing 155 domestic segment stores, reducing future store openings and aggressively renegotiating certain leases. The company also is considering all available options and alternatives to restructure its business.
RICHMOND, Va., Nov 03, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Circuit City Stores, Inc. (NYSE: CC) today provided an update on its liquidity position and its previously announced ongoing comprehensive business review. Due in part to its deteriorating liquidity position and the continued weak macroeconomic environment, the company has decided to take certain restructuring actions immediately, including closing 155 domestic segment stores, reducing future store openings and aggressively renegotiating certain leases. The company also is considering all available options and alternatives to restructure its business.
Senior Member
Quote:
Because that snippet is old news (11/3/08). Originally Posted by s2krn
Is this any different than what was already stated a couple of months before Christmas? Seems like old news...
Quote:
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."
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."
I heard about it on the news today and went searching... That is what I found. It's not old news if it's still taking place, is it? I suppose you think the war terrorism is old news too since that is from way back in 2001...
Senior Member
The old news was that they filed for bankruptcy and were looking for a buyer. The new news is that they did not find a buyer and were liquidating everything and closing up shop totally.
Senior Member
The snippet you posted is old news as it's not the same as what was announced today. They are liquidating ALL merch./stores.
You seem like a foxnews person, so here ya go.
Linky-pooh
Quote:
The snippet you posted is old news as it's not the same as what was announced today. They are liquidating ALL merch./stores.
You seem like a foxnews person, so here ya go.
Linky-pooh
It was a local ABC broadcast actually. Nice of you to assume that though, says alot. Thanks for the link.Originally Posted by Budha05STX
The snippet you posted is old news as it's not the same as what was announced today. They are liquidating ALL merch./stores.
You seem like a foxnews person, so here ya go.
Linky-pooh
Senior Member
That was pretty much destined to happen. After they announced how much trouble they were in and they were going to close the first round of stores, who was going to go to any of their remaining stores and plunk down $2500 on a new TV? Especially in these economic times? Pretty much no one since there wont be anybody around to back it.
Its a shame to see another big name go down.
Its a shame to see another big name go down.
Senior Member
Ccoll I just bought mine back in January with the 5 yr service plan over 140$. Now there saying well sorry. I cant speak for all the stores, but the last time I was in there this kid and I both stood back there waiting forever it seemed like. He wanted some equipment and I was just looking around, finally I went up and told someone the needed to help him out, only to send a cashier back there and tell him they were all out of everything. I was like WTF good ridence to my local store, thats not to all of them.
Suspended
The warranties are backed by a serate entity, who is funded and back by the govt. Your not screwed. I was in the first round of lay off's and did my own research and called the warranties myself and spoke to their managers (gotta love store manager dedicated lines).
Senior Member
I just now received this via email. I don't shop CC but for those who do this might be of interest. Included was a price comparison of CC warranties vs Square Trade warranties on a variety of items. Anyone who would like to see the entire email just drop me a email and I'll forward to you...
Circuit City announced today that they are unable to function under bankruptcy protection and are going into liquidation. This means that if you have bought a warranty FROM Circuit City directly, you will no longer be able to get service at the store - you will have to call the insurer that underwrites your Circuit City Advantage plan.
Fortunately, you can still protect your Circuit City purchases with a warranty from SquareTrade. Coverage is available for any item that you've purchased or received as a gift from Circuit City in the past 90 days.
If you purchased a Circuit City warranty and would rather get a SquareTrade warranty, you can cancel your Circuit City contract for a pro-rated refund by calling 1-800-555-4615. See your City Advantage contract or the Circuit City website for details.
You can use the discount code ALWAYS10OFF to get a 10% off your SquareTrade Warranty. This makes our warranty up to 70% cheaper than the Circuit City warranty.
Regards,
The SquareTrade Team
Circuit City announced today that they are unable to function under bankruptcy protection and are going into liquidation. This means that if you have bought a warranty FROM Circuit City directly, you will no longer be able to get service at the store - you will have to call the insurer that underwrites your Circuit City Advantage plan.
Fortunately, you can still protect your Circuit City purchases with a warranty from SquareTrade. Coverage is available for any item that you've purchased or received as a gift from Circuit City in the past 90 days.
If you purchased a Circuit City warranty and would rather get a SquareTrade warranty, you can cancel your Circuit City contract for a pro-rated refund by calling 1-800-555-4615. See your City Advantage contract or the Circuit City website for details.
You can use the discount code ALWAYS10OFF to get a 10% off your SquareTrade Warranty. This makes our warranty up to 70% cheaper than the Circuit City warranty.
Regards,
The SquareTrade Team
I posted a link to their page discussing the issue back up in the first post as well...
http://www.circuitcity.com/ccd/lookL...d=homepage_FAQ
http://www.circuitcity.com/ccd/lookL...d=homepage_FAQ
Graphics Contributor
CircuitCity BLOWS! They deserve to lose every single penny. Their prices are plain stupid. They go to the highest list price they can find for any product and jack it up another 10%. I can't seem to grasp the idea why anyone shops there. The mouse I got for christmas costs $40. $65 there. The speakers I want are $150 at BB. $200 at CC. Not to mention "Firedog" absolutely blows. A bunch of lazy *** holes standing around staring at you but not offering any help is really beating out geek squad .
Long story short, CC deserves to go bankrupt as many times as it's needed before they don't come back.
.Long story short, CC deserves to go bankrupt as many times as it's needed before they don't come back.