Print
Blighted electronic retail chain Circuit City is in discussions with several interested buyers, the company’s CEO Jim Marcum revealed to its employees in a letter. He also informed them about the likely course of action for Circuit City, which has filed a motion with the Bankruptcy Court seeking permission “for a process that formally puts the company up for sale.”
Marcum wrote that parleys with interested buyers have been focused on a “going concern” transaction, whereby the buyer will not dismantle Circuit City’s business, but just reorganize it. If the company fails to secure a sales agreement by the 16th, it will have to be liquidated. He asked employees to stay focused on the job at hand and work hard.
Image Credit: BoyGeniusReport
Comments are closed on this article
Jeffredo
January 13, 2009 at 10:04am
I shopped CC last summer for an LCD. It had a stuck pixel right in the middle of the screen and the staff was actually quite nice. It was the only one in stock, so the refund was no hassle (and the price was pretty good if it hadn't had a problem). I really haven't had any bad experiences there, but I was never truly impressed by the selection, price or customer service either. Just kind of a ho-hum retailer that I really won't miss.
I do know people who have had run-ins with customer service though.
savage4naves
January 13, 2009 at 8:06am
I work in computer repair and frequently ask customers about warranties on their equipment. Consumers from Circuit City who had purchased warranties always found their way to my shop. It seems CC would give them the run around or a quick temporary fix and send them on their way. I have been more of a Best Buy fan even though their Geek Squad service provides stiff competition.
jihnn
January 13, 2009 at 7:33am
years ago before best buy had a store in my area, i mean a lot of years ago, so long that i don't remember the details i had some trouble with something i bought from cc. their attitude was ...... we don't care and what you gonna do about it.
well guess, what best buy came to town, the egg pops up. cc had some real competition. they never did compete with prices most things were list price or higher they were just close.
about a week ago i purchaced a tube of artic silver on the cc website using their program to pick it up at the local store. when i got to the store, about 40 mi. away they didn't have the thermal paste.
i for one will not miss them
dracoress
January 13, 2009 at 5:54am
The CCity staff in my store had no knowledge, bad customer service, and they didn't have the items that they advertised in the Sunday flyer. And I got there at opening. Bestbuy is 10 times better. I love the Reward Zone club thing! Not even sure if CCity has anything like that.
Tclynch
January 13, 2009 at 5:05am
I use Best Buy for most of my electronic buys and the reason- rebates. I hate mailing them off and waiting for my money. Circuit City should have followed Best Buy and stopped them long ago.
schinkinatror
January 12, 2009 at 6:34pm
It doesn't suprise me that these guys are having trouble right now. In my area there is the circuit city and a best buy right across the street from each other. I went to circuit city the one day to see if they had any sales due to their current situations and then I saw the original guitar hero for ps2 for 40$ no guitar. So I knew then there would be no deals there, so I went across the street and saw everything was at least 5$ less. Unfortunately if circuit city goes under then so does the competition and of course prices could climb.
QuadraQ
January 12, 2009 at 10:17pm
I find this very sad. I've always had good experiences with Circuit City's staff, and have always liked the layout of the stores a lot better. I remember when Circuit City was THE place to find all the latest TV's and home theater gear at a reasonable price. Like their old motto: "Circuit City where service is state of the art..." Too bad.
