US retailer Circuit City files for bankruptcy protection

US electronics retailer Circuit City said Monday it had filed for bankruptcy protection and obtained a 1.1 billion dollar credit lifeline to battle a sharp decline in sales.

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• DGBEACH - Nov 10, 2008
  • Rank: 3 / 5 (2)
  So much for the warranties of all those digital tv converters that they just sold!
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• earls - Nov 10, 2008
  • Rank: 4 / 5 (1)
  Peace out. Hasta luego, brick and mortar.
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• Keter - Nov 10, 2008
  • Rank: 5 / 5 (2)
  Definitely a textbook case of mismanagement from the top. Circuit City went from being a slightly higher-priced store that had a knowledgeable staff to being an ineffective competitor to barebones retailers like Best Buy to being the place to go if you like to subject yourself to viciously high-pressure sales. They actively drove their customers away, and not once did they listen to any feedback on their mistakes. Not only that, its obvious that there was NO internal communication within Circuit City - one of the stores they closed had just been fitted out and I don't think was even open yet...I wonder how much abandoning that store cost? Even more strange, that store was in the heart of one of the few remaining active growth areas...while they left open a store that is in an area that has been declining for years.
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• BobbyT - Nov 10, 2008
  • Rank: 4 / 5 (1)
  Keter,
  
  Sounds like you or someone you know works for CC. Yeah that sux b/c now anyone with a warranty has none soon enough!
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