Adios Circuit City
Started by Mr. Roboto, Jan 17 2009 02:59 AM
17 replies to this topic
#1
Posted 17 January 2009 - 02:59 AM
Judge approves Circuit City liquidation plan
By MICHAEL FELBERBAUM and VINNEE TONG, AP Business Writers
Friday, January 16, 2009
(01-16) 11:48 PST NEW YORK, (AP) --
A bankruptcy judge says Circuit City Stores Inc. can liquidate its remaining 567 U.S. stores.
Circuit City needed approval from U.S. Bankruptcy Judge Kevin Huennekens (HIN-a-kins) to begin to put itself out of business. It sought a buyout deal, but one could not be reached.
The nation's second-biggest consumer electronics retailer says it will lay off more than 30,000 workers and begin close-out sales on Saturday.
Richmond, Va.-based Circuit City filed for Chapter 11 protection in November.
Its Canadian unit is still negotiating for a possible takeover.
"It was like I was in high school again, but fatter."
#4
Posted 17 January 2009 - 12:36 PM
I was just at my local C.C. and I could hardly find a parking place, they had everything marked down, was gonna buy some blu-rays for a pretty good price but decided against standing in that line, the only line I stand in that liong is the beer line!!!
If you stay ready.....you never have to get ready!!!
#9
Posted 17 January 2009 - 02:02 PM
I went there with there big going out of biz sales and the prices were still higher than other places. They couldn't or wouldn't match another store so...I bought elsewhere.
You never ask a navy man if he'll have another drink, because it's nobody's goddamned business how much he's had already.
#10
Posted 17 January 2009 - 02:05 PM
Stupid shit like that is probably why they are going out of business in the first place. I mean...negative cash flow (assuming it's negative) is still cash flow. Not moving product is just stupid. But I guess they didn't give a shit? What do I know.
"It was like I was in high school again, but fatter."
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