News
Circuit City to Close Remaining Stores
10% of Gamers Will Need to Find a New Home
by Coop
Circuit City, the retailer responsible for nearly 10% of 2008's video game sales, has officially gone under several months after fling for bankruptcy. The remaining 567 stores will sell off their remaining merchandise and close after failing to find a buyer. Recently several major corporations have expressed interest in the company, but apparently none enough to actually save it.
In the already troubled economy it's a shame that yet another company will soon be forced to lay off thousands and thousands of employees.
Here's the full press release, and, as always, Gamervision's hearts go out to all of those affected by this sad announcement.
Circuit City to liquidate remaining US stores
By MICHAEL FELBERBAUM and VINNEE TONG – 2 hours ago
Circuit City Stores Inc. says it has reached an agreement with liquidators to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.
The second-biggest electronics retailer in the nation says in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators.
Calls to the Richmond, Va.-based company and the liquidators were not immediately returned.
Circuit City filed for Chapter 11 bankruptcy protection in November. U.S. Bankruptcy Judge Kevin Huennekens gave the company permission to liquidate if a buyout was not achieved.
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Comments
meh, i never saw Circuit City as an outlet for my gaming needs.
GAMESTOP FTW!!!
I agree with Ridley but I will go and check out their sales.
I never shopped at Circuit City of anything, especially games.
gotta spend the $20 gift card my mom got me.
I walk in those doors often enough to pick something up every so often. Usually it's in the form of a Bluray movie or computer accessory. Also gawking at the HDTV selection [and their prices] is a past-time of mine. Hopefully they'll have a decent-to-good sale on their HDTV's so I can get one at a better price than I would otherwise. Maybe even a bigger/better HDTV than I would be able to purchase with the money I'll use for the purchase.
and another bites the dust... circuit city your shitty customer service will not be missed!