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Old 01-16-2009, 12:39 PM
 
199 posts, read 453,572 times
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What a great start for 2009. Circuit City joined Goody's today in announcing all their stores will be closing. Circuit City will be closing all remaining stores and 34,000 Circuit City employees will be out of a job.

Circuit City to Liquidate Remaining Stores - PC World
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Old 01-16-2009, 01:00 PM
 
Location: Louisiana and Pennsylvania
2,788 posts, read 5,402,817 times
Reputation: 2733
Quote:
Originally Posted by TNDan27 View Post
What a great start for 2009. Circuit City joined Goody's today in announcing all their stores will be closing. Circuit City will be closing all remaining stores and 34,000 Circuit City employees will be out of a job.

Circuit City to Liquidate Remaining Stores - PC World

No surprise at all and this was inevitable. This company dug it's own grave and sadly,thousands will be unemployed.
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Old 01-16-2009, 09:28 PM
 
Location: Southwest Pa
1,440 posts, read 3,784,876 times
Reputation: 1686
Gee, guess that idea of firing your experienced (higher paid) employees in favor of inexperienced (cheaper) hires didn't work so well. Instead of trying to save pennies on the bottom, the better idea would have been to shave off the top end first where the waste usually is.
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Old 01-17-2009, 02:24 AM
 
Location: Lynwood,IL
273 posts, read 616,393 times
Reputation: 87
I heard that Dillards might be going out of business. This site also talks about malls that will close in the near future.
Labelscar: The Retail History Blog
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Old 01-17-2009, 10:30 AM
 
Location: Orlando, Florida
43,858 posts, read 45,078,993 times
Reputation: 58645
I guess if you have a few extra bucks, this would be a great time to look for a liquidation sale near you.

It IS hard to imagine what all these people, and the employees of the other chains closing, are going to do for income. It is certainly going to be a rough time ahead of us. I think those of us who do have jobs should think about what we will be able to do to help out our family and friends who may find themselves out of work this year.
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Old 01-17-2009, 12:46 PM
 
Location: Somewhere in northern Alabama
18,605 posts, read 55,538,805 times
Reputation: 32526
Be aware that sometimes the liquidations are handled by a different company, and the deals are not deals at all.
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Old 01-17-2009, 01:41 PM
 
Location: Kentucky/ Displaced Texan
3,106 posts, read 2,723,794 times
Reputation: 1024
We went in today and it was mostly 10% off everything movies and dvd's were 20% off.
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Old 01-17-2009, 03:11 PM
 
Location: Alexandria, VA
11,635 posts, read 20,801,097 times
Reputation: 17067
Quote:
Originally Posted by harry chickpea View Post
Be aware that sometimes the liquidations are handled by a different company, and the deals are not deals at all.
Exactly! The same company that handled the liquidation of Linens 'n Things is handling C.C. liquidation. That company put higher priced stickers over the LNT prices and claimed it was a "deal"
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Old 01-17-2009, 03:54 PM
 
6,351 posts, read 19,532,590 times
Reputation: 9926
Quote:
Originally Posted by Bazzwell View Post
Gee, guess that idea of firing your experienced (higher paid) employees in favor of inexperienced (cheaper) hires didn't work so well. Instead of trying to save pennies on the bottom, the better idea would have been to shave off the top end first where the waste usually is.
AMEN, Bazzwell! That's EXACTLY why we stopped shopping at Curcuit City. Corporate America is SO disconnected from us Real Americans...
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Old 01-19-2009, 04:51 PM
 
Location: Southwest Pa
1,440 posts, read 3,784,876 times
Reputation: 1686
Another thing to keep in mind on these liquidation sales. My understanding of the normal way they do it is to put everything back up to suggested list and then mark down from there. For example, when National Record Mart was still in business the average price of a new cd release was around $12.99 based on a suggested list of $18.99, $6 off. When the liquidation began, all product was marked up to full list and the markdowns taken from there.

So, 10% off brought the price down to $17.10, still not back to the regular daily price. 20% off brought the price down to $15.20, still not back to the old price. 30% off the price came down to $13.30, close but still not there. Not until you hit the 40% mark did you really get a bargain in comparison to the old price arrangement.

By then, most of the "marks" (customers) would have snatched up the better stuff thinking they'd grabbed a bargain. By the time you were down to the 40% level, pickings were getting slim. All by design kids, your bargain may not really be all that much of a deal. Shop around and don't be fooled by the "BIG SALE" signs.
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