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Chapter 11

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The No. 2 electronics retailer in America, Circuit City, filed for bankruptcy protection on Monday.

According to the company's Chapter 11 filing with the U.S. bankruptcy court in Richmond, Virginia, Circuit City, which has 566 operating stores in the U.S., will continue to do business and pay its workers while it restructures debt and its business operations.

Times are still tough!

    Posted: Nov 10, 2008 at 10:30 am / Email this  »
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    33 comments to “Chapter 11”



    1. 1

      Let's focus on positive growth in the economy, it's the power of attraction, if we think positive, then positive outcomes prevail



    2. 2

      jesus christ perez….
      you are so bitter you just wanna bring everyone down.



    3. 3

      Maybe if they didn't charge twice the price of the same shit at Best Buy they might have some loyal customers.



    4. 4

      Re: JusticeStoon – Glass half empty or half full? I see a glass twice as big as it needs to be.



    5. 5

      I didn't know that Circuit City was even still around?



    6. 6

      Is there anything that Bushes bigg balls didn't kill? Shit!



    7. 7

      Stop chagrinin', Perez!!! >(



    8. 8

      Re: JokerBaby – Don't worry, Obama's gonna fix EVERTHING!



    9. 9

      Circuit City sucked anyway.



    10. 10

      OBAMAS NEW CHANGE AND WORLD ORDER IS HERE, EVERYONE GO GET YO FREE MONEY!



    11. 11

      Re: harrybalsac – I know. I'm waiting on my money.



    12. 12

      circuit city has been in trouble for a long time. they kept changing what their main direction was. 10 years ago they had appliances and tvs. they got rid of the appliances and moved in computers. If you go into one of the stores, so much space is wasted because of the way they display dvds, accessories and games. this is not a surprise, it might have just happened a little sooner than it would of in a better economy, but we were all surprised that it was still in business



    13. 13

      Enough with the doom and gloom forcast Perez, don't you know that we all know that the economy is a piss tank right now.



    14. 14

      You know what? I haven't heard one of the known republicans here defending and/or supporting YOUR VOTE FOR DUBYA.
      -
      why is that?



    15. 15

      Don't expect any bargains on the stores that have going out of business sales. Consumerist dot com reported that they hired a liquidation firm that is notorious for raising the (pretend) before prices skyhigh and charging more for the so-called sale price than the stores they liquidate ever did before the sales. Plus they bring in a lot of junk from out side the stores. You can't return anything including stuff that doesn't work (and stuff that turns out to be bricks in the boxes). So you have no guarantees and higher prices. People will buy a lot of stuff thinking they are getting a bargain anyway just because they see the liquidation sale signs, but it's all a scam.



    16. 16

      NOOOOO! Without Circuit City there is no Black Friday!



    17. 17

      What is Bush and his goverment doing these days, ah … nothing as usual !

    18. 29 says – reply to this


      18

      Re: Rebecca in Hoboken – u are absolutely right



    19. 19

      Don't forget the boycott of California Musical Theater and the Music Circus in Sacramento. Their musical director a closet case Mormon named Scott Eckern
      donated $1000 to deny gay people their rights.
      BOYCOTT IS ON BEYATCHES….



    20. 20

      Yeah this was in the talks more than a Year ago!!!

      No surprise!!!..

      Circuit City SUCKS Azzzz!!!!!!!



    21. 21

      It is the negativity of the media that has been the real downfall of the market. The media has frightened everyone to sell… let's try to focus on the positive… or at least stop sensationalizing the negative.



    22. 22

      Circuit City deserves to go under. When their stores are dirty, filled with over priced items and a sales staff that is straight out of the ghetto and rude as can be then they deserve to loose their jobs!



    23. 23

      This company is notorious for firing their higher paid employees right before the end of the fiscal year so the executives can get bonuses that they don't deserve due to their mismanagement. I don't feel sorry for them at all. Unethical companies eventually fail; this is a positive thing!



    24. 24

      felt like i should straighten some things up. (not you perez…..joke) i work at the city in richmond va near near the corporate offices actually. first of all, our prices aren't twice that of best buy's. most of the time our prices are exactly the same on the products that are actually the same. if they're not its usually because best buy or the city has a product on sale and if the situation occurs that best buy does have a lower price we do price matching. best buy has price matching as well but we price match PLUS 10% of the difference so no matter what we will always have a better price than best buy. now for the people who think we have a lot of wasted space hasn't seen a "city" store. I'll admit, Circuit City is a bit out dated but the company has a new concept store open in some locations called "the city" (which is the store i work at) and the city looks 100 times better than best buy (which always looks like its the day after black friday).



    25. 25

      As for our financial struggles, that has a little to do with the economic situation and more to do with poor planning. years ago before there was a best buy circuit city had virtually no competition and they banked a lot of money. with all they money sitting around they said "hey, lets just build as many stores as we can where ever we can" and they wound up putting a lot of stores in really bad locations. Now fast forward 15 years and you've got a big competitor and about 150 stores in horrible locations that are losing money. so what normally happens in business when a company has stores that are losing money rather than making it? They close those stores, which is what circuit city should have done a long time ago but our last senior vp decided he was going to be a nice guy and give these stores chance after chance after chance to turn it around and they never did. thats the reason we now have new leadership, we needed a vp that wasn't afraid to act. so really closing these stores is more of a good business decision than a reaction to a bad economy. the company is actually doing a lot better in profits, especially with the new "city" stores.



    26. 26

      the company still has a crap ton of money in the bank as well as in real estate. in most places that circuit city has a store they own the whole shopping center that its in. what it comes down to is what happens with every big corporation. they guys at the top would rather file bankruptcy and walk away with a crap ton of money than use that money to bail out the company. they would rather rely on their shareholders to foot the bill than spend all those profits they've been sitting on. i'm not saying circuit city is perfect but there are a lot of misunderstandings about whats happening to the company. the liquidation isn't a scam either, i've seen some of the prices and there are great tvs marked down 75% and you absolutely can return the product to a different circuit city (though if there is only one CC near you and its closing that might be hard). and i gotta say, i'm just a college student working part time and circuit city and i don't necessarily care that much about the company, this is just my job not my career; i guess i have a little bias but i still go into best buy from time to time and our richmond best buy is not a very nice store and the staff doesn't even have half of the knowledge of products that the people in our store has.



    27. 27

      in the city stores we have extensive training programs that teach us extremely in depth information about our products and we're consistently being trained on new products and new technology. the city stores also have a completely different attitude and appearance than regular circuit citys or best buy. the store itself looks a lot more modern and well planned and our uniform is a red or black tshirt with jeans as opposed to a lame polo shirt and khakis. we also all carry tablet pcs with WiFi and software that allows us to build solutions for guests as well as giving us access to all of the stores in the area's inventory so we can find the item you're looking for.



    28. 28

      plus, something best buy doesn't do; we have a community outreach program. we are constantly having fundraisers and donations opportunities to contribute to the richmond boys and girls club and the united way. we have family movie nights on sudays, guitar hero and rock band competitions, we did a haunted house in our road shop for halloween, we're doing a canned food drive right now and we always have free seminars to teach guests how to use their new technology, like ipods, laptops, digital cameras and camcorders, harmony remotes, we even have video game tutorial seminars. bottom line, we do a lot more to make sure the guest has the best experience possible (i'm technically a salesperson but my official title is "guest experience partener") and we make sure the guest gets what they need not what I can sell them, no matter how much money we make that day. ask yourself the next time you're in a best buy, is that sales person really helping me get what i need or are they just trying to make quota?



    29. 29

      i will say, one comment is true. high paid management does tend to get fired or moved at the end of the year and replaced with lower paid store directors. some stores in the area have lost some good people recently. they were replaced by really good people but it doesn't really seem like there was a lot of reason.

      sorry for the long winded response but i'm tired of guests thinking they know whats happening with the company and telling me "oh hey, i heard your store was closing [false]"; "you know you guys are pretty much out of business [false]"; "best buy is kicking your ass [false] (electronics sales have gone down everywhere and best buy isn't making the money they used to)"; "i don't know if i want to buy any service plans, if you go out of business i'm screwed [false] (all service plans and credit is done through third parties who aren't hurting in the slightest); and my favorite, the guy standing behind me in line at the gas station while i was on my break on halloween "i know what you are for halloween….UNEMPLOYED!!!!" you gotta admit that was pretty funny, i gotta give him a little credit for creativity



    30. 30

      also, there are a lot of assholes who comment here. justicstoon has got the right idea, you create your own reality out of the beliefs you hold. whether you wanna get metaphysical about it or if you just wanna say attraction is a powerful part of nature, whatever attitude you project into the world is the experience you will have. being a prick doesn't really pay off. those execs that have ungodly amounts of money aren't satisfied, they're distracted. and "liberation" (occupation) through war doesn't bring peace it only creates more fear and negativity which manifests as more negative experience. only peace can create peace. so try being nice for a minute, you might just wind up happy. and why is someone who's handle is "FAGS SHOULD BE SMOKED" reading this blog anyway?



    31. 31

      Circuit City has been sliding for awhile and thank god it's finally been put out of it's misery. The stores were dull, uninviting and the sales people did everything not to make customer contact. Sorry for the people who lost their job but you can thank dip shit upper management who didn't have a clue how to run a retail business.



    32. 32

      Perez, i work as a tech at CCity and have been through the horrible downfall of CompUSA as well. moving from store to store has taught me something.. You have to trust your employers and think of yourself in their situations. i agree with justicestoon and richmondlive. ive been with the company for over a year and have been very happy. yeah people get laid off for making too much, but the more you make the more of an asshole you get. my management staff is great and those new City stores are amazingly beautiful. We all need to band together and realize its the economy not the stores.

    33. T 2.0 says – reply to this


      33

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