Circuit City Files for Bankruptcy - Blu-ray Forum

stockstar1138 · 11-10-2008, 12:47 PM

No big suprise, but its official. http://www.bizjournals.com/buffalo/s...10/daily3.html

mikejet · 11-10-2008, 12:47 PM

Anyone check out any of the liquidation sales yet?

fatediesel · 11-10-2008, 01:04 PM

Quote:

Originally Posted by mikejet

Anyone check out any of the liquidation sales yet?

I haven't seen any liquidation sales personally, but from what I've read in most cases they actually raised prices. Plus, you'd have to be crazy to buy anything big since the stores won't be there if you have a problem and will have to go through the manufacturer directly.
I'm not surprised Circuit City finally went bankrupt. They tried to save the store by firing all their knowledgeable, experienced workers and replacing them with part-timers, usually high school or college aged. I can't imagine it gained customers when nobody at the store knew anything. Plus with the economy in it's present state and online prices so much lower it was inevitable that some big stores would fail.

jw · 11-10-2008, 01:08 PM

Quote:

Originally Posted by mikejet

Anyone check out any of the liquidation sales yet?

MY BROTHER works at a closing store and he said they actually raised prices. He said a liquidation team came in and set the prices based on MSRP. I would check back later in the month when they start doing deeper discounts. I asked as I was looking for deals.

E55 KEV · 11-10-2008, 01:26 PM

20% off Blu-ray disc MSRP is not enough to get me into my local closing store.

rebfandan · 11-10-2008, 01:56 PM

Quote:

Originally Posted by E55 KEV

20% off Blu-ray disc MSRP is not enough to get me into my local closing store.

My local CC is closing and I went in yesterday to check out their BD "discounts" -- Only 5% off!!! That doesn't even cover sales tax in my state!! And the sign said "off original price" -- so, yeah, that's probably the MSRP. So no blu's for me. I did pick up some cd's at 20% off that I'd been wanting for a while.

The manager is a friend of mine, and he told me to check back on Nov. 12. Said that prices would go down even further then. I might try to see if I can get a new 7.1 receiver, but the big caveat is that all sales are final.

fighthefutureofhd · 11-10-2008, 02:12 PM

well of course. that makes perfect sense.

cravnsn · 11-10-2008, 02:45 PM

Damn, and I just bought a BD55 there, and was going to return it because I found a better price

hoogoosedmoose41 · 11-10-2008, 02:56 PM

im so glad i ended up not buying my Tv there. I tried to but I returned it when i didnt even get a thank you for my purchase. they dropped the tv haphazardly onto the bed of my truck and promptly walked away... I went back in and told them to take it back and give me my money back.
I dont care if its only a dollar im spending somewhere its not that hard to say thank you.

Bond007 · 11-10-2008, 02:59 PM

They filed for Chapter 11 protection. They will still be open and operating. The only changes will be that they do not have control of their debt. A bankruptcy court will supervise the reorganization of the company's contractual and debt obligations.

Ferris · 11-10-2008, 03:16 PM

Quote:

Originally Posted by Bond007

They filed for Chapter 11 protection. They will still be open and operating. The only changes will be that they do not have control of their debt. A bankruptcy court will supervise the reorganization of the company's contractual and debt obligations.

This is what I was going to say.

Remember, they're filing for Bankruptcy PROTECTION.

ngkf7 · 11-10-2008, 03:30 PM

Quote:

Originally Posted by Bond007

They filed for Chapter 11 protection. They will still be open and operating. The only changes will be that they do not have control of their debt. A bankruptcy court will supervise the reorganization of the company's contractual and debt obligations.

Yeah this is the key and what people often forget about Chapter 11. They will still have stores open and will still be competing with Best Buy for the coming holiday season. I don't expect the deals to be too enticing unless the store is being liquidated. Even then, I'd rather spend $50 more knowing there's some sort of support behind it.

air_max · 11-10-2008, 05:18 PM

link

Quote:

Hurt by competition from Best Buy Co. and Wal-Mart Stores Inc. and by pressure from the downturn in the economy that led shoppers to cut back on discretionary purchases, the 59-year old Circuit City Stores Inc. on Monday filed for Chapter 11 bankruptcy protection....

Circuit City said in the filing, made through the United States Bankruptcy Court for the Eastern District of Virginia, that it plans to emerge from the bankruptcy protection in the first half of 2009...

will this affect black holiday sales at all for CC, BB or walmart?

PS3+HDDVD OWNER · 11-10-2008, 05:19 PM

And why is this in the "hot deals" thread?

1Fish2FishRedFishBlu · 11-10-2008, 05:31 PM

I am very surprised this didnt happen years ago. I stopped buying there in 1996 after one really bad customer service experience and never again bought anything big ticket from them.

Quote:

Originally Posted by PS3+HDDVD OWNER

And why is this in the "hot deals" thread?

... F I R E Sale?!

Ferris · 11-10-2008, 05:36 PM

Quote:

Originally Posted by ngkf7

Yeah this is the key and what people often forget about Chapter 11. They will still have stores open and will still be competing with Best Buy for the coming holiday season. I don't expect the deals to be too enticing unless the store is being liquidated. Even then, I'd rather spend $50 more knowing there's some sort of support behind it.

Excellent point.

Something to bear in mind with respect to this comment; some companies have successfully re-emerged from Chapter 11 as healthy as they were before (which is not saying much for some companies). Delta Airlines is one of them, and they will soon make up the largest air carrier in the US (if the merger with Northwest finishes successfully).

EricJ · 11-10-2008, 06:05 PM

And as old Format War I veteran who remembers DVD-vs.-DiVX....this was a LONG time in coming.

(...Old grudges die hard.

)

Lepidopterous · 11-10-2008, 06:59 PM

Wow it finally happened.

http://news.yahoo.com/s/ap/circuit_city_bankruptcy

RubberDucky · 11-10-2008, 07:37 PM

I checked online last week to see how much they wanted to band of brothers and they were asking 99.99 doesnt suprise me that they are going out of business

mikejet · 11-10-2008, 07:40 PM

Won't it be hard to compete during the holidays considering Sony isn't shipping new products to them anymore?

11-10-2008, 12:47 PM	#1
stockstar1138 Banned Member since:Apr 2007	Circuit City Files for Bankruptcy No big suprise, but its official. http://www.bizjournals.com/buffalo/s...10/daily3.html

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11-10-2008, 12:47 PM	#2
mikejet Banned Member since:Sep 2008 Location:Los Angeles, CA Blu-ray reviews:5 Trading Score:29	Anyone check out any of the liquidation sales yet?

11-10-2008, 01:26 PM	#5
E55 KEV Power Member Member since:Aug 2008 Location:Washington D.C. 4K collection:6 Blu-ray collection:546 DVD collection:15 Trading Score:28	20% off Blu-ray disc MSRP is not enough to get me into my local closing store.

11-10-2008, 02:12 PM	#7
fighthefutureofhd Blu-ray Baron Member since:Jun 2008 Location:Dry County	well of course. that makes perfect sense.

11-10-2008, 02:45 PM	#8
cravnsn Banned Member since:Aug 2008	Damn, and I just bought a BD55 there, and was going to return it because I found a better price

11-10-2008, 02:56 PM	#9
hoogoosedmoose41 Senior Member Member since:Feb 2008 Blu-ray collection:308 DVD collection:103	im so glad i ended up not buying my Tv there. I tried to but I returned it when i didnt even get a thank you for my purchase. they dropped the tv haphazardly onto the bed of my truck and promptly walked away... I went back in and told them to take it back and give me my money back. I dont care if its only a dollar im spending somewhere its not that hard to say thank you.

11-10-2008, 02:59 PM	#10
Bond007 Active Member Member since:Aug 2007 Blu-ray collection:195 Blu-ray reviews:6	They filed for Chapter 11 protection. They will still be open and operating. The only changes will be that they do not have control of their debt. A bankruptcy court will supervise the reorganization of the company's contractual and debt obligations.

11-10-2008, 05:19 PM	#14
PS3+HDDVD OWNER Special Member Member since:Feb 2008 Location:Chicago Trading Score:12	And why is this in the "hot deals" thread?

11-10-2008, 06:05 PM	#17
EricJ Banned Member since:Jul 2007 Location:The Paradise of New England Blu-ray collection:6	And as old Format War I veteran who remembers DVD-vs.-DiVX....this was a LONG time in coming. (...Old grudges die hard. )

11-10-2008, 06:59 PM	#18
Lepidopterous Blu-ray Ninja Top contributor Member since:Feb 2008 Location:DjMethod was here Blu-ray collection:696 Trading Score:2	Wow it finally happened. http://news.yahoo.com/s/ap/circuit_city_bankruptcy

11-10-2008, 07:37 PM	#19
RubberDucky Active Member Member since:Oct 2008 Blu-ray collection:87 Blu-ray reviews:1	I checked online last week to see how much they wanted to band of brothers and they were asking 99.99 doesnt suprise me that they are going out of business

11-10-2008, 07:40 PM	#20
mikejet Banned Member since:Sep 2008 Location:Los Angeles, CA Blu-ray reviews:5 Trading Score:29	Won't it be hard to compete during the holidays considering Sony isn't shipping new products to them anymore?

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