circuit-city posts

Circuit City shuts down forever on Sunday

by John Callaham Mar 7th 2009 @ 7:00PM

It's been the single biggest shut down of a retailer in the US since the current recession began and on Sunday all 567 US Circuit City stores will be shut down for good. In fact there are reports from various news sources that some of the stores could close down as early as tonight.

The company filed for Chapter 11 bankrupcy back in November but couldn't keep sales up nor could it find a buyer. Circuit City announced its closing back in January which affected over 30,000 workers. Originally the stores were to close on March 14 but going-out-of-business sales at their locations were apparently brisk enough that they decided to shut down a few days early.

Filed under: Biz

Circuit City stores get swarmed by shoppers this weekend

by John Callaham Jan 19th 2009 @ 10:00AM

On Friday, Circuit City, one of the top retail stores for selling PC games in the US, announced it was closing all of its stores in this country. Liquidation sales began on Saturday and reports from all over the US showed shoppers swarming the company's stores to get closeout deals.

The Los Angeles Times web site reports that lines at a local Circuit City store were "almost 100 people long" on Saturday with people buying games and other items at steep discounts. The New York Daily News reported that a Manhattan based store had 50 people in line that morning as well. CNet reports that a store in an unnamed section of souther California was also full of customers. The article stated that they were "seemingly snapping up anything that wasn't nailed down." Most Circuit City stores should be completely closed by the end of March.

Filed under: Biz

It's over for Circuit City

by John Callaham Jan 16th 2009 @ 12:00PM

One of the US's biggest retail store franchises for PC games is officially shutting down. Circuity City has announced that it was unable to reach an agreement with its creditors and as a result the company will be liquidating its assets and closing down its remaining 567 stores.

That means over 30,000 of the company's employees will soon be looking for new jobs. The company tried to stave off extinction late in 2008 by closing down 155 stores and then filing for Chapter 11 bankruptcy protection but apparently wasn't enough. Details on Circuit City's liquidation will be revealed later. The Canadian version of Circuit City with over 700 stores, is not affected by this move.

Filed under: Biz

Circuit City offers $10 off PC Left 4 Dead

by John Callaham Nov 16th 2008 @ 3:00PM

If you still haven't placed any money, either via you local software store or on Steam, for Valve's zombie co-op shooter Left 4 Dead you are in luck. Financially troubled retailer Circuit City, perhaps in an attempt to keep customers coming to their remaining stores, has got a deal for you.

Circuit City's latest Sunday ad reveals that when Left 4 Dead ships to stores this coming week they will be selling it for $39.99. That's $10 off its regular price and $5 off the pre-order price on Valve's Steam service. Presumably the retailer's web site will also show the special deal although at the time of this news post the Circuit City web site was undergoing maintenance.

Gallery: Left 4 Dead

Filed under: Biz, FPS, Multiplayer, Left 4 Dead Series

Circuit City 2008 Black Friday ads include some huge PC game sales

by John Callaham Nov 14th 2008 @ 7:00PM

We are just a couple of weeks away from "Black Friday" considered to be the biggest single shopping day of the year. Stores usually have some massive sales of products during this time and with the economy being so bad its no exception this year.

Financially troubled electronics retailer Circuit City is going all out for their Black Friday sales. Blackfriday.info has the details of the sales that the company will have on that day and they include some huge sales on some PC game titles. Here's the relevant info:

Enemy Territory: Quake Wars: $4.99
Sims Carnival: Bumper Blast: $4.99
Sims Carnival: Snap City: $4.99
The Sims 2 Deluxe: $4.99
World of Warcraft: $9.99
World of Warcraft: Battle Chest: $14.99

Filed under: Biz, Culture

Circuit City files for Chapter 11 bankruptcy; lays off more workers

by John Callaham Nov 10th 2008 @ 11:00AM

The other shoe has fallen on troubled electronics retailer Circuit City. The company, one of the top five retailers in the US for selling games, has now filled for Chapter 11 bankruptcy protection. This move comes on the heals last week of its decision to close 155 stores in the US.

The even worse news? Circuity City announced it would lay off 700 more workers in addition to the workers that would be displaced by the closing of its 155 stores. That means the company has now put 20 percent of its total work force out into the streets. Any way you cut it it all adds up to bad holiday tidings for the company.

Filed under: Biz, Culture

Circuit City to close 155 stores in US by end of 2008

by John Callaham Nov 3rd 2008 @ 3:00PM

Several days ago it was rumored that financially troubled electronics retailer Circuit City might be filing for bankruptcy soon. Today the company, one of the largest retailers for PC games, announced that it would be closing 155 stores in the US (you can read the entire list of closing stores at this PDF link).

All the closed stores are expected to be shut down completely by the end of 2008. You can expect to see massive sales at those locations beginning on Wednesday (the affected stores will not open on Tuesday) The results of the store closings will include the layoffs of 17 percent of the company's workforce. Circuit City has been in financial straits for some time as it has unsuccessfully competed with its main rival Best Buy.

Filed under: Culture

Circuit City thinking about bankrupcy?

by John Callaham Oct 20th 2008 @ 7:00PM

It's one of the biggest retail stores chains in the US for PC and video games sales but Circuit City's days may be numbered. Citing a subscriber-only Wall Street Journal report, News.com is reporting that Circuit City is considering a plan to close a number of its stores which could result in thousands of people losing their jobs. The usual "unnamed sources" state that the company has also hired a bankruptcy firm.

Officially, Circuit City reps would only say that they are "considering several options" for the future of the retailer. However the WSJ story states that one plan calls for the shut down of 150 stores which could pay back some of the company's debt. Circuit City currently has 714 stores in the US and another 722 stores in Canada. It's been a pretty lousy 2008 for the retailer who has recorded large losses for the year as well as a failed attempt by Blockbuster Video to buy the company.

Filed under: Biz

Blockbuster + Circuit City = ?

by John Callaham Apr 14th 2008 @ 10:31AM

Yet another huge business merger has been proposed that could potientaially affect the entire PC game industry. Unlike the friendly Activision/Viviendi merger or the hostile EA/Take-Two deal, this one would merge two giants of the retail industry. Movie and video game rental company Blockbuster has made public a proposal to acquire the financially troubled but still huge electronic retailer Circuit City (which is currently still one of the major brick-and-mortar PC game stores in the US). The proposed deal would have Blockbuster pay between $6 to $8 a share in cash that would total between $1 billion and $1.3 billion for Circuit City.

Blockbuster went public with the deal with an appeal to Circuit City's shareholders after sending a letter to Circuit City's board of directors on Feb. 17. According to Blockbuster's press release, Circuit City has not yet provided the "due diligence" Blockbuster needs so it is now appealing to Circuit City's shareholders. Naturally, Circuit City has a different point of view; its own press release issued today told its shareholders to "take no action at this time" on the Blockbuster proposal. Circuit City maintains that it has a number of unanswered questions about the buyout proposal including whether or not Blockbuster's deal "could be financed." Could we be in for another nasty EA/Take-Two style fight?

Filed under: Biz