Circuit City question. - Page 6 - Blu-ray Forum

mhd114 · 01-16-2009, 03:16 PM

http://www.msnbc.msn.com/id/28691963/

coolmilo · 01-16-2009, 03:16 PM

By the way, I think this was expected. They did all they could to remain open during the holiday season and then close up in January.

PA_Kid · 01-16-2009, 03:16 PM

Quote:

Originally Posted by brett_day

this is pretty tragic, all the thousands that will now be out of work! Bad times people, bad times indeed

The CC thing will definitely hurt Richmond VA as they were headquartered there, but anyone with 2 brain cells saw this coming. My wife worked there and it's not like the leadership instilled any confidence that they could right the ship. Anyone still working at CC since the big layoffs in 2007 either made the conscious decision to ride it out or just stuck their head in the sand.

Unfortunately now isn't exactly the best time to be looking for a new job, so I hope those people who hung around made a sound decision. (Hey, if you can survive off unemployment for the next 6-12 months, it may be a pay cut for now, but they may end up looking for a better job at the right time.)

naturephoto1 · 01-16-2009, 03:16 PM

That is very very unfortunate. It is unfortunate for the 30,000 employees, the economy, and for us as consumers.

Rich

BluOgre · 01-16-2009, 03:16 PM

Quote:

Originally Posted by master_8ball

Movie Galley Closing all stores

Wait a minute....do you mean Movie Gallery the rentailer chain (that owns Hollywood too)?

jw · 01-16-2009, 03:16 PM

Quote:

Originally Posted by mikejet

Which is why we all listen to you jw!

I wouldnt go that far

master_8ball · 01-16-2009, 03:20 PM

Quote:

Originally Posted by BluOgre

Wait a minute....do you mean Movie Gallery the rentailer chain (that owns Hollywood too)?

I'm just passing the info on, I have no idea how valid that list is... And I am in Canada we do have some Movie Gallery's here and they are movie rental stores like a small blockbuster.

Uniquely · 01-16-2009, 03:22 PM

Quote:

Originally Posted by austina126

yup, there goes my job. out into the job market again with everyone else....

How's the severance package? When Montgomery Wards went out of business years ago...... we got a very generous severance package.

Teabaggins · 01-16-2009, 03:22 PM

when do the saaaaaaaaaaaaaaaaaaallllllllllllllllllllllllllles start??!!!

BluOgre · 01-16-2009, 03:25 PM

Quote:

Originally Posted by master_8ball

I'm just passing the info on, I have no idea how valid that list is... And I am in Canada we do have some Movie Gallery's here and they are movie rental stores like a small blockbuster.

It's not that I don't believe that they could close up shop (heck there were in bankrupcy just months ago) but I've not heard anything. I'm a direct competitor with them, which is why I ask. It would be good for my business if they were to be removed (of course it's a sad day for such a big company to go under like this).

AaronSCH · 01-16-2009, 03:27 PM

It's terrible to hear of anyone losing their job. However, the one silver lining to recessions is that it squeezes out companies that have lousy business models and allows new and more focused ad efficient companies to emerge. Though I visit Best Buy and Fry's Electronics regularly, Circuit City never motivated me to even browse. The selection, layout and prices were the worst in the industry. It's no surprise since Circuit City was having troubles even when the economy was red hot. If you can't make a decent profit when consumers are free and loose with their spending, something is terribly wrong with the way you are conducting business.

KNOW YOUR PRICES before heading into these stores for so-called liquidation sales. LIQUIDATORS RAISE PRICES BEFORE CONDUCTING THE SALE—50%, 60% or even 75% plays off the psychology of consumers. The recent liquidations at Linens and Things as well as the first wave of Circuit City closings had consumers paying more for the merchandise than it was originally priced— after the discounts were applied! Remember that you aren't dealing with Circuit City once liquidation begins, you are dealing with an unknown entity which has purchased the inventory. There is no motivation to keep you a happy customer. Not happy? Too bad, all sales are final.

darkblueme · 01-16-2009, 03:28 PM

Source: http://www.cnbc.com/id/28691870

The company, which employs more than 30,000 employees, said in court papers it has appointed Great American Group, Hudson Capital Partners, SB Capital Group and Tiger Capital Group as liquidators.

Calls to the Richmond, Va.-based company and the liquidators were not immediately returned.

Read more here.

bigpapy · 01-16-2009, 03:28 PM

I got a question what about the customers that bougt extended service plan can we get a refund?

austin126 · 01-16-2009, 03:29 PM

Quote:

Originally Posted by robinandtami

How's the severance package? When Montgomery Wards went out of business years ago...... we got a very generous severance package.

zip. zero. zilch. as far as i understand, i get a pat on the back and a kick to the curb. they are flat broke so i dont see how they could pay for a severence package. sure could use it though.. hopefully im wrong

Marine Mike · 01-16-2009, 03:29 PM

When CompUsa had their liquidation sale I bought my PS3 80GB Motorstorm bundle for only $450.

NJ_RAMS_FAN · 01-16-2009, 03:30 PM

Quote:

Originally Posted by bigpapy

I got a question what about the customers that bougt extended service plan can we get a refund?

for the warranty? i doubt it.. but the warraty policy is not through them. it's through a 3rd party company. CC was just getting them business with warraties purchases.

BluOgre · 01-16-2009, 03:30 PM

Quote:

Originally Posted by bigpapy

I got a question what about the customers that bougt extended service plan can we get a refund?

I've been told before that you are screwed essentially.

mikejet · 01-16-2009, 03:30 PM

Quote:

Originally Posted by austina126

yup, there goes my job. out into the job market again with everyone else....

Have they said how soon? Will you be part of the liquidation crew?

jw · 01-16-2009, 03:31 PM

Quote:

Originally Posted by robinandtami

How's the severance package? When Montgomery Wards went out of business years ago...... we got a very generous severance package.

lol, with what? They dont have any money

My brother closed the Manassas store and didnt get a dime but a bonus incentive from the liquidator for staying onboard

Montgomery Wards I believe, just closed without being forced to liquidate by a court, big difference

fatediesel · 01-16-2009, 03:31 PM

Quote:

Originally Posted by darkblueme

Source: http://www.cnbc.com/id/28691870

The company, which employs more than 30,000 employees, said in court papers it has appointed Great American Group, Hudson Capital Partners, SB Capital Group and Tiger Capital Group as liquidators.

Calls to the Richmond, Va.-based company and the liquidators were not immediately returned.

Read more here.

Consumerist is saying Gordon Brothers is the liquidators. They did the prior liquidation sale at certain Circuit City stores and also did the Comp USA liquidation. They will definitely raise prices initially. Link: http://consumerist.com/5132952/circu...tely-liquidate

01-16-2009, 03:16 PM	#101
mhd114 Member Member since:Mar 2008	Msnbc http://www.msnbc.msn.com/id/28691963/

01-16-2009, 03:27 PM	#111
AaronSCH Banned Member since:Sep 2007 Trading Score:1	It's terrible to hear of anyone losing their job. However, the one silver lining to recessions is that it squeezes out companies that have lousy business models and allows new and more focused ad efficient companies to emerge. Though I visit Best Buy and Fry's Electronics regularly, Circuit City never motivated me to even browse. The selection, layout and prices were the worst in the industry. It's no surprise since Circuit City was having troubles even when the economy was red hot. If you can't make a decent profit when consumers are free and loose with their spending, something is terribly wrong with the way you are conducting business. KNOW YOUR PRICES before heading into these stores for so-called liquidation sales. LIQUIDATORS RAISE PRICES BEFORE CONDUCTING THE SALE—50%, 60% or even 75% plays off the psychology of consumers. The recent liquidations at Linens and Things as well as the first wave of Circuit City closings had consumers paying more for the merchandise than it was originally priced— after the discounts were applied! Remember that you aren't dealing with Circuit City once liquidation begins, you are dealing with an unknown entity which has purchased the inventory. There is no motivation to keep you a happy customer. Not happy? Too bad, all sales are final. Last edited by AaronSCH; 01-16-2009 at 03:39 PM.

01-16-2009, 03:28 PM	#112
darkblueme Expert Member Member since:Jul 2007 Location:Salt Lake City, Utah 4K collection:6 Blu-ray collection:78	Circuit City to Liquidate Remaining US Stores Source: http://www.cnbc.com/id/28691870 The company, which employs more than 30,000 employees, said in court papers it has appointed Great American Group, Hudson Capital Partners, SB Capital Group and Tiger Capital Group as liquidators. Calls to the Richmond, Va.-based company and the liquidators were not immediately returned. Read more here.

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01-16-2009, 03:16 PM	#102
coolmilo Blu-ray Guru Member since:Jan 2007 Location:Silicon Valley Home Theater Gallery:16 Blu-ray reviews:2 Trading Score:2	By the way, I think this was expected. They did all they could to remain open during the holiday season and then close up in January.

01-16-2009, 03:16 PM	#104
naturephoto1 Blu-ray Ninja Top ranked HT gallery Member since:Oct 2008 Location:Breinigsville, PA Home Theater Gallery:260 4K collection:21 Blu-ray collection:263	That is very very unfortunate. It is unfortunate for the 30,000 employees, the economy, and for us as consumers. Rich

01-16-2009, 03:22 PM	#109
Teabaggins Blu-ray Samurai Member since:Aug 2008	when do the saaaaaaaaaaaaaaaaaaallllllllllllllllllllllllllles start??!!!

01-16-2009, 03:28 PM	#113
bigpapy Special Member Member since:Jun 2007 Location:Houston,Tx Blu-ray collection:303 Trading Score:26	I got a question what about the customers that bougt extended service plan can we get a refund?

01-16-2009, 03:29 PM	#115
Marine Mike The Busey Member since:Apr 2008 Location:Ohio Home Theater Gallery:10 Blu-ray collection:120 Blu-ray reviews:4 Trading Score:4	When CompUsa had their liquidation sale I bought my PS3 80GB Motorstorm bundle for only $450.

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