with circuit city going out of business

ViviTheMage

Lifer
Dec 12, 2002
36,189
87
91
madgenius.com
Maybe I am mistaken, but I heard they are filing bankruptcy, and this means they will most likely go out of business...correct?

If so, would/will they have an end of business sale, huge price drops, etc?
 

manlymatt83

Lifer
Oct 14, 2005
10,051
44
91
OP: Change CC to circuit city in your title... I thought you meant a credit card was going OOB. confusing.
 

IronWing

No Lifer
Jul 20, 2001
73,150
34,461
136
Given that CC owes its suppliers big bucks and the shopping season is upon us, it is likely that the best stuff will be shipped back to the suppliers for sale to other stores. I went camera hunting at the local CC last week (one not scheduled to close) and half the cameras on display were in-operable because the suppliers weren't sending batteries/chargers (salesperson's explanation, not mine).
 

Ns1

No Lifer
Jun 17, 2001
55,420
1,600
126
how liquidations work

Liquidator takes over company
Liquidator marks EVERYTHING back to MSRP
Liquidator basically has reverse auction, increasing % off until all items are gone
 

weeber

Senior member
Oct 10, 1999
432
2
81
Originally posted by: ViviTheMage
bah, I was hoping for some 50% off type of TV's and upgrade my 42" ^_^.

Changed OP to reflect circuit city, not CC.

Unfortunately nothing like that. I stopped by a CC that is closing last week. Pretty much everything was just 10% off the cost that they normally sell it for. I picked up a PCI-E TV tuner for about the same as I could have gotten it from NewEgg when you include shipping, so it wasn't really a good deal, it was just there and I wanted it. All their TV's are 10% off too, but the store had signs everywhere saying that all sales were final, no returns allowed so it's buyer beware. DVDs and CDs were 20% off their normal prices.
 

Capt Caveman

Lifer
Jan 30, 2005
34,543
651
126
Originally posted by: ViviTheMage
bah, I was hoping for some 50% off type of TV's and upgrade my 42" ^_^.

Changed OP to reflect circuit city, not CC.

fwiw - Circuit City does have really good deals on Black Friday.
 

Kalmah

Diamond Member
Oct 2, 2003
3,692
1
76

The liquidators printed out probably hundreds of pages of merchandise. Each page listed on average about 80 items in very tiny font. The list showed the item, msrp and what the percent off is suppose to be. Then for about 9 hours straight we calculated the prices with the calculators in our cellphones and wrote them down very tiny next to the item; followed by copying those prices to tags with markers and then searching the store to find the item to put the tag out.
After about the 14th page when you've done several hundreds of them, you are seeing blurry and your hand aches from writing very small on the paper mistakes are bound to happen. 4 hours later you are still doing it...

No, they don't have the brains to put the merchandise into a spreadsheet and have it calculate for you. One of the reason why circuit city fails.. I've seen this kind of retarded crap for 2 years.

To add to that..
There business model is to provide the best customer service.. which involves:
*Firing all good employees
*lowering pay for employees
*making employees into product generalists instead of specialists. (work every department)
*Making sales employees do other peoples jobs.. like scanning and putting out tags instead of being 'customer ready' (example: "You can't leave tonight until all tags are out" Screw the customers, I'm going home on time....) customers are then ignored
*Spending thousands of dollars on a point of sale system that is so slow you could have helped 3 customers in the time you where waiting on the system to check to see if something is in stock for one customer

They rarely make good decisions on their own. If somebody else does something and it works.. they then half-ass copy what the other retailer did in a way that makes it redundant

They never keep up with what merchandise should be in the store. One year people are asking for a Flip video camera and we don't carry them. The next year we carry them and nobody wants them.

Sales goals are based on your percent of Firedog attachments + Warranty + accessory attachments.. So if you sell One computer costing $1,000, a $200 warranty, and a printer with ink and paper you have your attachment goal for the month. Now ignore customers for the rest of the month and you don't get a coaching for bad numbers.



 

Kalmah

Diamond Member
Oct 2, 2003
3,692
1
76
Originally posted by: ViviTheMage
it's circuit city Kalmah, grab a damn calculator... haha

lol. They can't afford calculators after spending thousands on their non-efficient point of sale system.
 

JEDI

Lifer
Sep 25, 2001
29,391
2,738
126
Originally posted by: ViviTheMage
Maybe I am mistaken, but I heard they are filing bankruptcy, and this means they will most likely go out of business...correct?

If so, would/will they have an end of business sale, huge price drops, etc?

is my gift card still good?
 

Dulanic

Diamond Member
Oct 27, 2000
9,969
592
136
Originally posted by: JEDI
Originally posted by: ViviTheMage
Maybe I am mistaken, but I heard they are filing bankruptcy, and this means they will most likely go out of business...correct?

If so, would/will they have an end of business sale, huge price drops, etc?

is my gift card still good?

They requested that part of the bankruptcy that all gift cards be allowed. AFAIK everything should be good on that part. Also, keep n mind this is only Chapter 11 bankruptcy which allows them to continue operations during restructering.

Q: What does this mean for Circuit City's credit cards and warranties?
A: Circuit City's co-branded Chase credit card and Circuit City Advantage Protection Plans are each handled by third parties and will not change because of the bankruptcy filing.

Q: If I buy a gift card for someone this holiday, will the company still redeem it? And will returns be honored?
A: We don't know yet. Circuit City says it has asked the bankruptcy court for permission to honor returns, exchanges, and gift cards, but it does not have a definitive answer yet. Circuit City says that it does expect its request to be granted, but don't count on it until we know for sure.
 

manlymatt83

Lifer
Oct 14, 2005
10,051
44
91
So wait, if I tihnk Circuit City will emerge from bankruptcy, do I buy the 10 cent CC stock? Or do I wait for them to re-emerge with a new stock?
 

iamwiz82

Lifer
Jan 10, 2001
30,772
13
81
Up to 20% off at the stores that are closing. DVDs are at 20% off. All PC stuff is 10% off.
 

Jeff7

Lifer
Jan 4, 2001
41,596
20
81
Damn, too bad they don't really liquidate stuff. My grandfather loaded up on stuff when a local hardware store went out of business. They meant it when they wanted the store cleaned out. 90% off or more.
I don't remember how much he paid, definitely less than $40, for a drawer set like this, except it was filled with various wood and machine screws, all properly labeled. Or a drawer of cabinet handles and assorted hardware for 15 cents each.

And some stuff they were willing to negotiate on, just to get it out of there. That is how you liquidate a store of inventory. :)
These 1% off sales that Circuit City is apparently having (;)) are BS. You can get better deals on clearance stuff at Kmart.