At last, that going-out-of-business sale you’ve been waiting for! Circuit City, which announced 2 Houston-area store closings in October and declared bankruptcy in November, today declared it will shut down all its stores — including the 13 left in Houston — and liquidate all remaining assets.
- Circuit City to close remaining U.S. stores [Houston Business Journal]
- Circuit City to close 567 remaining US stores [Houston Chronicle]
- Venue-Appropriate Stucco Repair [Swamplot]
Photo: Annie Sitton
Very sad…yes.. it is a sale…but 5,000 stores and 35,000 employees..lights out and pink slips..that’s not a sale i can support…
Well, good news, Fry’s! The brand new Circuit City store they built over here on the Katy @ Bunker Hill over the past few months is finally finished and ready for a sign change!
I went to the uptown CC yesterday to see what kind of sales they had. 10% off sticker was all they had. Which was really unimpressive because a) CC is 20% higher than most other places to begin with and b) they sticker price their items upon delivery and never account for natural inventory price markdowns.
Example: Games/movies that are no longer new releases and have had price reductions are not reflected in the Circuit City sticker price. The Simpsons Xbox360 game is widely available at any store for around $20. CC had it stickered at $60. So even with 10% off, theres no deal to be had.
As a shareholder of Best Buy, part of me is glad to see CC fold, and then part of me fears the price increases I may see at BB especially since I’m a technology geek.
Regardless though, CC was doomed. They seemingly did NOTHING right over the past few years, and I can’t help but think this was done on purpose. A 5th grade dropout could have made better executive decisions than what came out of the Circuit City management.
I also went in to the Uptown store. no deals to be had. I asked one of 4 guys hiding out in the car stereo area if they were having any sales. one guy told me that all prices went UP to MSRP, and then they were taking 10% off. the deals should be coming out in a few more days.
I never liked shopping at CC. the employees were like vultures to see if you needed anything since they worked on commission. the selection was never good. Best Buy always had better deals, now I wonder how much they are going to go up?
any news on who is going to takeover CC at Bunker Hill?
CC is probably looking for a larger wholesaler entity to unload most of its inventory. Don’t see drastically reduced prices on any of the major electronics except for demo units.
The real deals will eventually happen on the much smaller items.