Circuit City’s Swan Song: A Massive Liquidation Sale

16

Comments

+ Add a Comment
avatar

mpcrsc562

Not that CC is closing, but that 39,000 employees are getting walking papers! CC has never really been a good place to shop if you were looking for a deal. I must add, though, that I have bought a few things from them, but nothing big ticket. There was a store (one of the first ones I know of to close) that was in walking distance from my job. So if I needed anything quick, fast, and in a hurry, I would purchase the item online and pick it up on my break. Really, no major loss.

avatar

Keith E. Whisman

The KB Toystores are closing all over the place here in Phoenix and they for one actually have good prices on toys for my kids. I got like six toys for my kids for Twenty bucks. I heard they have slashed prices as much as 80% and it's not on just select toys mind you it's on whole isles. Befor Christmas they had a 40% off everything sale and I mean toys that were $20bucks were down to $12bucks...  So not every company fakes out like CC.

avatar

Raiju

I promised myself three years ago to never do anymore business with Circuit City after they charged me a restocking fee on an item without telling me before hand. Sure there was a sign when you walked in the store about the policy, but that sign was behind me when I walked in, sure there was a notice on the back of the reciept, but when does one get a reciept? After they make the purchase, thats when. In any event I went tonight to check out the "bargains" to be had, and was less than impressed with what I saw, for instance a wireless N router selling for $150 - 10%= $135 but when I went to the Best Buy about 3 blocks away this same router's regular price there was $119.  Like a previous poster said, all the good stuff will be gone by the time the mark-downs amount to really good deals from people being fooled into thinking they are getting a deal because there is a red sticker with a price written with a sharpie on the package. I am happy to report that I did not break my threee year old promise to myself and walked out empty handed.

 

Raijū (雷獣,"thunder animal" or "thunder beast") is a legendary creature
from Japanese mythology. Its body is composed of either lightning or
fire.

avatar

yogurt80

Yeah, this is how my Mervyns went out, too.  They started out with everything 10-30% off.  But this is Mervyns, who has stuff 20%+ off all of the time.  So things were jacked up to full price, (even stuff that was previously on clearance) and then dropped down 10%.  So a $40 shirt that coulda cost  $30 a week prior now cost $36.  And there were items that had clearence stickers ripped off (you could still see where the addhesive was) and the original price written with a shaarpie, then crossed out out a new "sale" price written bellow it.  Pretty sure this is illegal.    They continued liquidation for several weeks, and by the time the deals were any good, like 50-70%, idiots customers had picked through what they thought were "good" deals, and only the real crap was left.  Pants that were like 30x50.  Yeah, these liquidators know what they're doing, and they start the sales off slow cos they know most ppl are fools who will come blow there wad on something just cos they say it's on sale.

avatar

Keith E. Whisman

What happens to everything that doesn't get sold? Does it goto a clearing house or does it get dumped into a container of some sort and auctioned off to the highest bidder kinda like what they do with rental sheds?

avatar

Asevening

The lost jobs as of right now are pretty dependant on how worthless the employee is.  In Minneapolis, every employee was fired on the spot when the Liquidators came in, while in Lincoln, NE everyone is allowed to keep their jobs for up to the next 8 weeks, depending on how long it takes to clear out everything, before they will receive the final cut.  So before you get extremely angry about the store just throwing everybody out, only the really crappy stores and crappiest employees are being shut down now.  Not everyone is immediately jobless they have the next two months to find a new one.

It is bad that the 30 thousand people are jobless but realize only the worst employees are getting crapped on right now.  I know that's mean to say but like the other guy said most of the sales people are douchebags.  Also, on another note, the Liquidators in lincoln, NE aren't setting any schedule for the employees and are allowing any overtime the employees hit to be authorized, so for the next 8 weeks any remaining employees stand to make more money that they could under CC's control.

I used to work there and knew the place was going to and I am happy to see it burn, but just note most of the people who are jobless today are because they didn't care previously and put forth no effort.  I know there are some cases in which good people lost their jobs because of the crappy people and crappy people keep them because of the efforts of the good people, but from what I've seen it is up to the Liquidators to keep or fire the current employees of the store.

If the employees who lost their jobs, the crappy employees, are so unhappy about losing their jobs they should have tried back before CC dropped $30 a share in about 3 months.

avatar

HitmanX800

I went in first thing saturday morning when i heard about the liquadation. I have been wanting to purchase a new 52" 120hz TV for awhile now. i have had my eye on the Samsung 650 or 630. the 630 was down to !1899 on black friday, if they would of had that price, I would of bought it on the spot. but they hiked the price up and then offered me 10% off to give me a total of 1999. what kind of deal is that? And plus the sales guy was a douche bag. Unless they come down to the black friday prices i will not purchase anything from them.

avatar

Tclynch

  I stopped going to Circuit City a few years ago for a number of reasons. The number one of which was when they fired their employees who knew anything (ie, they made too much money) and hired a bunch of new people (to save money). That and the constant mail in rebates (which Best Buy has done away with, thank god), along with higher prices than the competition....well, why would I go there?

avatar

Keith E. Whisman

They don't give the workers I mean the people that actually work for a living any type of severance package like they do for their execs. Heck there was once a time when employers felt it was a duty to provide their employees with a Christmas bonus every year. I haven't gotten one of those in more than a decade. 

Well if I were an employee there and not an exec I would be actively searching for a job replacement and just get out of that sinking boat as quickly as I could. I definately would not stick around to the end. I guarantee the management does not care about it's workers the least. Why would it treat it's workers any better than they did their customers?

I'm sure there will be a day unknown to the employees I mean the store workers that they will arrive for work and to pick up their paychecks to find the store locked up with security guards to keep the workers out from even collecting their own belongings left in lockers and such. I was a security guard once and I did just that on three seperate occasions and it made me sick. And all during the Christmas holiday whitch is why I get aggressive against companies that lay off employees. They never do it respectably. Never a sorry we have to close on such and such a date.

I'll pray for the employees at Circuit City. May they find fresh and more stable employment elsewhere. And I hope they take my advice and quit before the company can lay them off without notice.  A new job is alot better than a maximum of $240bucks a week as it is here in Phoenix. 

avatar

Asevening

  • At the company's corporate offices in Richmond, Virginia, a small staff will remain on duty during the completion of the liquidation process; most associates will be relieved of their duties immediately. 
  •  Consistent with federal labor laws, Circuit City associates are receiving 60-days notice of the termination of their employment.  Those who stay on to help with the liquidation, of course, will receive pay and benefits. Those who are dismissed earlier will be receiving pay and benefits for the 60-day period beginning January 16, 2009
  • Sure, they aren't receiving severance, but they are receiving 60-days of pay and benefits Which is probably close to or better than any severance you could give to 30,000 people.  If they quit they won't receive these benefits, so I would look for a job but if I'm a seasoned CC employee you earn lots of PTO, which will be paid off at the end of the 60-days, so I wouldn't want to leave if I worked there.

    avatar

    opulent_rigs

    ............

    avatar

    JohnP

     

       Circuit City was always the worst for walking in the door and being accosted by 2,3 or MORE salesmen who would blow me off if I said I was buying a game. Then ANOTHER guy would latch on with the same results. Bernie's was the only store that was worse.  

     I still will not go in even if it was half off...

    avatar

    ddimick

    I stepped into a CC for the first time today after swearing them off more then a decade ago.

     Absolutely no deals to be had. I saw a Harmony 890 remote, which can be had most places for about $300, on "sale" for $350. Even while exhaling their dying breath they are still one of the most expensive places to shop for electronics. Perhaps that has something to do with their demise?

    I wouldn't describe the scene as "chaotic". More like lethargic.

    avatar

    Stockislander

    I live in a town with 25,000 or so residents. I can't imagine the repercussions if all of us lost our jobs. This is just a small taste of what's happening all around us.

    avatar

    K0BALT

    I hope they turn mine into a Micro Center.

    avatar

    vpkb

    The netbooks are somewhat a good deal, since they're selling for similiar prices as other retailers, and you get 10% off too.  Other items are not so great of a deal, it's like getting 10-30% off the jacked up price :-( not a smart move.

    Log in to MaximumPC directly or log in using Facebook

    Forgot your username or password?
    Click here for help.

    Login with Facebook
    Log in using Facebook to share comments and articles easily with your Facebook feed.