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The WIZ, all stores closing by August

F

FrugalGuy

Senior member
Cablevision Systems Corp. yesterday said it planned to sell or close the 17 remaining stores in its Wiz consumer electronics chain by June 30, done in by a feeble retail market and fierce competition from bigger rivals such as Best Buy and Circuit City. It looks this time all inventory will have to go. Probably things will be 10% off and then eventually progress as the deadline approaches.

article

credit credit NJ2000DEVILS
 
finally they close those horrible stores

i dont know why tehy continue to waste money advertising.

i wont go off on the Wiz, if anyone wants to hear rant...pm personally

djopm

 
I dunno what happened to them over the years. I remember I used to buy all my electronics from them, including my first DVD player, stereo and all my music and even my graphing calculator. They had a PM policy back then, 30 day return, then all of a sudden, the went down the toilet...crazy.
 
Originally posted by: DaCurryman
I dunno what happened to them over the years. I remember I used to buy all my electronics from them, including my first DVD player, stereo and all my music and even my graphing calculator. They had a PM policy back then, 30 day return, then all of a sudden, the went down the toilet...crazy.
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Buying power. I believe places like Best Buy and Circuit City are national, whereas The Wiz is just NY region. They seem to have started struggling just about the time when Best Buy and Circuit City moved in...
 
I just bought two Verizon Wireless phones from there and paid extra for 2 years of equipment insurance... If they're not gonna be around for two years, then I want my money back. Think they'll stonewall if I went back and asked for a refund?

Goll
 
The Wiz originally went down the tube when it sponsored almost all of Yankee Baseball on WPIX (I think). The cost of the advertising was never recouped and the Wiz went bankrupt. (I think the owner joined Vesco in hiding with the rest of the cash.) I got burned with a prepaid order and never got a cent out of the bangruptcy.

After the name and profitable leases were purchased from the bankruptcy there were an insufficient number of stores to leverage better prices out of the various electronic distributers. A slow agonizing death was almost inevitable, unless the chain again expanded and the name was already damagede goods so no quick influx of cash and quick expansion. But the real reason was the owner spent a year as a big shot with the Yankees and blew (and/or stole) all of the corporate cash.

For a similar story see National Finance Corporation, also blew all of their cash as sponsers of the Yankees.
 
they should maybe not charge an arm and a leg for their items and maybe they'll have better business

all their items are way overpriced~

even compared to best buy and circuit city~

they should go down under~

 
also blew all of their cash as sponsers of the Yankees.
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Cablevision ddint blow their money on sponsoring the yanks

they blew their money on the two of the worse two managed franchises in all of our sports, both leading respectively in total payroll in their respected sport.

The New York Knicks and The New York Rangers.

You would think when you spend 64million on a hockey team, you would be good

sigh

djopm

 
Why the Wiz is going down the tubes:

Cablevison cannot operate in a competitive marketplace. The company and its stock price flourished when they had cable monopolies. Once satellite TV became convienient and affordable, they branched out into businesses they felt would compliment their cable business. They have no clue how to compete in a marketplace and consumers always come last with them.

They got into the cellular business and lost their shirts.

They bought a bunch of crappy Clearview movie theaters, and lost their shirts. I don't know how the movie businees compliments the cable business.

They bought Madison Square Garden and have managed to destroy the Knicks & Rangers and have alienated the fans in the process. Somehow despite all this, MSG is still profitable thanks to the prior ownership who put MSG on the right track. The potential for future profits remain to be seen.

Then they bought The Wiz with the notion that it would somehow be a showplace for their cable and cable modem services. Someone forgot to tell Cablevision that many of the Wiz locations are in areas service by Time Warner Cable, Comcast, and others. The stores were actually going have to turn a profit and compete in a marketplace where Best Buy and Circuit City can out-market them and undercut them on price. I almost forgot to mention their staff of GED certificate toting idiots.

Finally, Cablevision have been running anti-satellite TV propganda commercials on the radio here in NYC while they are quietly trying to launch their own satellite service and/or bidding on DirecTV. Typical Cablevsion BS.

Good riddance to the Wiz, I hope the entire Cablevision empire comes crumbling next.
 
hahaha NOOoooOOooooo .. Ok, who's in central NJ?

THE WIZ FLAGSHIP on route 22 union represent 😛

I wonder what they could possibly put in that building
 
Originally posted by: DaCurryman
I dunno what happened to them over the years. I remember I used to buy all my electronics from them, including my first DVD player, stereo and all my music and even my graphing calculator. They had a PM policy back then, 30 day return, then all of a sudden, the went down the toilet...crazy.
Click to expand...

Cablevision bought and then ruined them.🙁
 
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