Circuit City files for bankruptcy protection

[STANG RED]

WOW, this is huge. Its scarry as hell where our economy is headed right now. But I'm sure lots of new taxes will pick things right back up again. :confused: :vrycnfsd: :crazy:

AP
Circuit City files for bankruptcy protection
Monday November 10, 10:44 am ET
By Vinnee Tong and Michael Felberbaum, AP Business Writers
Circuit City seeks bankruptcy protection amid pressure from vendors ahead of the holidays


RICHMOND, Va. (AP) -- Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday season approaches.


It said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday shopping period. The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers

[Txbroadcaster]

CC has been struggling alot longer than just this economic downturn


As bad as the economy is at the moment, it is doing a good thing, purging the companies that really have not been doing good for awhile but were able to keep getting more and more credit just to keep barely making it

[STANG RED]

Originally posted by Txbroadcaster
CC has been struggling alot longer than just this economic downturn


As bad as the economy is at the moment, it is doing a good thing, purging the companies that really have not been doing good for awhile but were able to keep getting more and more credit just to keep barely making it

Very true. I said the same the thing about some huge restaurant chain the closed its doors a couple months back.
But the recent extreme downturn will push several more over the edge very soon I believe. Their will be lots of unemployed right after the new year, and it'll probobly get a lot worse before it gets better. But I'm sure the government with its endless supply of money from the few that will still be working will be happy to bail everyone out.

[rockdale80]

If they were less expensive and more competitive then more people would shop there.

[LH Panther Mom]

Originally posted by rockdale80
If they were less expensive and more competitive then more people would shop there.
Thank you - agreed!

[crzyjournalist03]

Sometimes they put their video games on sale, which is better than can be said of most electronics retailers.

[piratebg]

I can't stand Circuit City or Conns.

[sinton66]

Conn's will NEVER see another penny of my money. That organization is a big rip-off. We replaced our double ovens with a new convection unit from Conn's. We bought it on sale. When it crapped out, we went to get it replaced and were told we had to pay the difference between the normal retail price and the sale price we paid to get an identical replacement. We ended up settling for a much lesser unit with some store credit. What a rip-off.

[Phantom Stang]

Originally posted by rockdale80
If they were less expensive and more competitive then more people would shop there.
:iagree: Some hired help that knows what they're talking about wouldn't hurt either.

[lakers]

I always will go to Circuit City before Best Buy. I hate Best Buy's return policy...:mad:

[lakers]

Is Circuit city closing in anybodys towns?

I know the Lubbock location is staying open.

[crzyjournalist03]

Originally posted by sinton66
Conn's will NEVER see another penny of my money. That organization is a big rip-off. We replaced our double ovens with a new convection unit from Conn's. We bought it on sale. When it crapped out, we went to get it replaced and were told we had to pay the difference between the normal retail price and the sale price we paid to get an identical replacement. We ended up settling for a much lesser unit with some store credit. What a rip-off.

When their name is a variant of "Con" why would you expect anything different? My wife and I bought a recliner from there months ago and we were scared to death that something was going to go wrong with it.

[STANG RED]

Originally posted by lakers
Is Circuit city closing in anybodys towns?

I know the Lubbock location is staying open.

I dont think the closing will happen till after Christmas. I would think the big college towns Circuit Cities would do a little better than others, so they may be safer.