Liquidation sales of $1.2 billion in inventory will start today at 567 Circuit City stores nationwide after the bankrupt consumer electronics retailer was unable to find a buyer or restructure its debt. The company’s 34,000 employees are all expected to lose their jobs, including about 600 at 19 Massachusetts stores. The 60-year-old Richmond, Va., company, which filed for Chapter 11 bankruptcy protection in November, is the latest in a growing number of retailers to go out of business amid a tightened credit market and recession that’s sque ...
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The big question now is whether Circuit City will go out of business altogether. The New York Stock Exchange halted trading when the stock hit 10 cents a share (vs. about $25 for Best Buy)...
Circuit City Stores, a bellwether American retailer, said Friday that it would go out of business, stripping the nation of its second-largest consumer electronics chain. The company, which filed for bankruptcy protection in November but had hoped to emerge in a slimmed-down form, said instead that it would liquidate all its stores and assets. Most of the chain’s 34,000 store employees will be laid off. Closing sales will begin as early as Saturday and will last until the merchandise is gone or...
as Circuit City closed its doors for good - its 567 remaining U.S. stores to be left broom... conducted going-out-of-business sales for what was the nation's second-largest consumer...
They're the grim reapers of failing retail chains, except they brandish going-out-of-business signs instead of scythes. And they were surrounding the Circuit City a couple of miles from my house to...
Clipping found in Quad-City Times published in Davenport, Iowa on 3/20/1983. Steady pulse on the business circuit, page 2 of 2
For an early case study of how C-Suites need to deal with the financial crisis, consider the case of big box electronics retailer Circuit City that finally went bankrupt this week. The...
way — Circuit City was the CE specialty chain supreme. But... build-out of store base. 2005: Schoonover named president.... looks to unload Canadian business. 2008: Investor Mark Wattles...