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Circuit City Closes Its Doors For Good

Posted by ScuttleMonkey on from the gonna-have-a-heart-attack-and-die-from-not-surprise dept.

bsharma is amongst the hordes of people wanting us to share the news that long beleaguered retailer Circuit City has finally decided to close for good, asking for court approval to close the remaining 567 US stores. "Whalin said management mistakes over the past few years combined with the recession brought down Circuit City. 'This company made massive mistakes,' he said, citing a decision to get rid of sales people and other mismanagement. What's more, given the credit market freeze, Whalin added that no manufacturer wants to sell to any retailer who doesn't have money to pay for the merchandise. At the same time, Whalin said there's still a very slim chance that one or more firms that have expressed an interest in buying Circuit City could still buy it out of bankruptcy over the next few days."

6 of 587 comments (clear)

  1. More than mismanagement by SomeJoel · · Score: 5, Funny

    I guess the business model of high prices, unfriendly sales staff and poor quality merchandise didn't pan out for them.

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  2. Obvious by notque · · Score: 5, Funny

    But DIVX was just about to take off!

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  3. Re:Main mistake they made? by megamerican · · Score: 5, Funny

    That pretty much sums it up. The only reason to go to a Circuit City was to avoid crowds.

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  4. Re:What about "The Source" in Canada? by crabboy.com · · Score: 5, Funny

    Someone please mod parent down for reading the article.

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  5. Re:With Circuit City and CompUSA all but gone... by amabbi · · Score: 5, Funny

    My wife and I had almost the same experience. Our fridge died. We went to Best Buy, Home Depot, Lowes.. Everybody said that it would take four of five days to get one delivered. We decided to check out a local place. They had a great fridge for a great price. Then came the delivery, the answer was how about tomorrow?

    Ugh. I hate it when people answer a question with a question. Bastards.

  6. Re:Main mistake they made? by Gojira+Shipi-Taro · · Score: 5, Funny

    Well there's still Blood Bath and Beyond.

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