Circuit City Shorts Out

CIRCUIT CITY SHORTS OUT Last week Circuit City announced it would close 155 stores nationwide, including its Sharpstown and League City stores in Houston. But this morning the electronics retailer announced it is filing for bankruptcy too. “‘This is a major positive’ for Best Buy, Wal-Mart, Costco Wholesale Corp. and others, Credit Suisse analyst Gary Balter said in a note. ‘We have not seen a consumer electronic retailer successfully reorganize in Chapter 11 in our 24 years in this space. Should (Circuit City) ultimately close all of its operations, we assume there’s roughly $10.5 billion of annual domestic sales up for grabs. Best Buy should take a disproportionate share of that business.’” [Marketwatch]

2 Comment

  • i am surprised circuit city lasted as long as they did. there approach to selling seemed very similar to best products back in the day. i stopped going there after having to deal with the hassles.

    try going to an at&t store and try to buy a phone charger without having to take a number behind people trying to sign up for phone service. the quick and easy sales are always hard to be made in retail operations that function like these

  • who doesn’t like getting hassled to buy a big screen tv while all you want is a dvd? talk about the vultures hanging around the door.
    all the hassle you get at BB is “good day” when you walk in the door and the sales guys are more than helpful if you are looking for something.
    give them 6 months (4/09) to see if they make any profit from the holidays.