Posted in MP3 | industry | music on January 16, 2009

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Circuit City

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...

..."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."...

...The company said the sale would begin Saturday and run until March 31, pending court approval. The retailer's Web site and call center will cease to operate after Jan. 18. Circuit City said employees will receive 60 days notice of the termination. [CNN]

It was announced a few days ago that Virgin Megastore is also closing its Times Square location.

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Comments (23)

i'm hoping to get a giant television for less than the price of a leonard cohen ticket out of this.

Posted by Anonymous | January 16, 2009 5:18 PM

I never understood the point of this store.

Posted by Anonymous | January 16, 2009 5:23 PM

they have employees?!?!?!?

I know they got a bunch of dudes in red shirts just standing around doing jack-shit but REAL WORKING EMPLOYEES???

Posted by Jonesboogie, Rawkansas | January 16, 2009 5:27 PM

'scuse me, younge fella.. I'm looking for a "I-Pod", I think it's called, for my grandson. Is that some kind of radio?

Posted by Anonymous | January 16, 2009 5:32 PM

and unemployment is already high ...

Posted by New Rap Songs | January 16, 2009 8:55 PM

so if virgin on 14th st closes a whole block will be empty. I hope another H&M doesn't open there.

Posted by Anonymous | January 16, 2009 10:24 PM

they sell alot of vinyl on-line -- do you think they'll put that stuff on sale now?

Posted by anonymous | January 16, 2009 10:31 PM


POST SOMETHING ABOUT KIMS ON ST MARKS CLOSING
ITS COOLER AND ALL THE SHIT IS 50% OFF!!
PLZ
SAT IS THEIR LAST DAY OPEN
THANKS

Posted by thanksgiving brown | January 16, 2009 11:19 PM

Damn Kims is closing?
been there for years.
nyc is definately a different city now then when
I hung out in the 90s.sorry folks im old.

Posted by Anonymous | January 17, 2009 12:29 AM

Circuit Shitty is, and has always been a terrible retail option.

I once again made the mistake of going in one over the holidays, and hated everything about the experience.

1. No merchandise
2. No service
3. No selection
4. Outlandish return policies

Bye Bye CC - you were doomed to fail anyway eventually.

Posted by Anonymous | January 17, 2009 2:22 AM

Yeah - terrible retailer we didn't need.

This is natural - as we are over retailed in the US, a bit more retailers on the closing front and we should bottom out in 09.

Then we'll bounce back in a more controlled and responsible manner.

Posted by Anonymous | January 17, 2009 2:56 AM

Remember when Circuit City CHARGED you for a return?

A few years back, CC would charge you a "re-stocking fee" if you tried to return something opened, even if it was defective. To the tune of 25%.

Policies like that sealed this craphole's fate long before the current economic climate.

I read 2 years ago (when the economy was fine) that CC decided to cut its on floor sales force by 45% - leading to zero customer service in giant big boxes... a recipe for disaster sooner or later.

Posted by Anonymous | January 17, 2009 3:00 AM

fuck em, another one bites the dust

Posted by Anonymous | January 17, 2009 3:04 AM

As bad as the customer service was at circuit city at least it wasn't nearly as bad as the customer service at Home Depot where you have to wait for the overzealous salesperson to stop talking to only one customer for an hour.

Posted by Anonymous | January 17, 2009 4:41 AM

You guys are a bunch of spoiled idiots.The economy was not fine two years ago and I dont think you "will bounce back"(?)
thats it fellows.

Posted by INdio | January 17, 2009 12:15 PM

i think when some people say "fine" they mean "better than it is now".

Posted by Anonymous | January 17, 2009 12:25 PM

Wait, does this mean the one at union square is going to have a huge sale?

Posted by Dooder City | January 17, 2009 12:30 PM

the one at union square had a line of 100 people waiting outside at 10.30

Posted by Anonymous | January 17, 2009 2:04 PM

This also has a lot to do with internet sales. Why buy at home when you order a tv online and have it shipped tax free with no shipping charge? Curious to see how Amazon's lawsuit goes (regarding Amazon customers having to pay for tax in NY).

But, anyway, these mega electronics stores always close. They'll just be replaced with an equally less costumer service friendly store.

Posted by Anonymous | January 17, 2009 3:04 PM

how was the economy not fine 2 years ago?

alot better than it is now.

Posted by Anonymous | January 17, 2009 3:50 PM

a lot is two words people. TWO WORDS.
don't really know why that bugs me so much tho.

Posted by Anonymous | January 17, 2009 6:02 PM

i am surprised how circut city lasted this long. they fucking blow. fuck corporate america!

Posted by Anonymous | January 18, 2009 3:11 PM

Yeah! Buy your bourgeois consumer goods only from anarchists!

Posted by Anonymous | January 18, 2009 8:02 PM

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