Mervyn’s and Linens ‘n Things announced they’ll be a thing of the past shortly. Now Circuit City, which hasn’t been looking good for a while, is on life support. What other stores will we lose in this economy?
Circuit City Stores Inc. is considering a plan to close at least 150 stores and cut thousands of jobs, as an alternative to filing for bankruptcy-court protection, said people familiar with the company.
Earlier this month, the nation’s No. 2 electronics retailer by sales hired Skadden, Arps, Slate, Meagher & Flom LLP — the law firm that oversaw the Chapter 11 reorganization of Kmart — as its bankruptcy counsel, according to several people familiar with the matter.
Circuit City also retained FTI Consulting Inc. to develop a turnaround plan and investment bank Rothschild Inc. to guide talks with banks and secure emergency financing, these people said.
[Chart]In recent days, the cash-strapped company also has been analyzing how much money it could raise by liquidating hundreds of millions of dollars in inventory.
Pretty soon it will be just this:
http://tinyurl.com/6l9mcf
[Bad link. – ed.]
Circuit City being crap long out dates liberals being angry. Or have you always been angry?
In any event, these are three stores that aren’t the best in their field… and offer no advantages over their competitors.
At a fundamental level, Macy’s/Dillards, Best Buy, and Bed Bath and Beyond are all better in their respective fields. That’s why CC, Merv’s and LiNT are going out of business, and justifiably so.
…unless you want the government to buy them, too.
Killed by Best Buy.
http://tinyurl.com/6l9mcf
Give it a moment, it’ll load (hotlinked).
#35: “Forbidden
You don’t have permission to access /u33/smurfer/large/21391881.dayinqtown030.jpg on this server.”
Does it really matter? There will always be newer, fresher chains that popup and replace the outgoing ones. Their business models will be tailored to the new consumer landscape. They’ll sport a new look, launch a hip publicity campaign, and we’ll all flock to check out the new stores. And, of course, they’ll hire the same old laid-off management and store staff from the old defunct chains.
@paddy
glad i could provide you with a chuckle, my good man.
you can debate about what he was trying to do till you’re blue in the face, but the fact remains, bill clinton had a balanced budget.
oh, and bush, with a republican house and senate for six years did not, he couldn’t do it six, nor twice, nor even once.
kinda hurts, doesn’t it?
#35 – SpEd
Still FORBIDDEN. Post a legit link!
We can’t afford to pay for our government programs!
If we return to 1990s tax rates, that might slow down the economy!
#38 “kinda hurts, doesn’t it?”
No, the only thing that hurts is not having someone like Newt as Speaker.
These stores don’t offer anything you can’t find online for cheaper. There’s really no reason for these types of stores to exist. I’d say they are more a victim of the continued evolution to a more virtual shopping environment, as well as the economy in general.
Now, if we could just kill off best buy, we’d all be better off.
Sorry about the link, works for me. It was Wal-Mart – the only store that will be left standing.
This one is for James Hill:
http://tinyurl.com/2t7xd4
# 24 Olo Baggins of Bywater said, in part:
“If we Americans keep buying American stuff, and dramatically reduce the purchase of imported stuff and pay down personal debt, we’ll all bet better off that much sooner.”
That’s a mighty big “If”… Is there anything not made in China any more? Just try and find a pair of shoes made in the USA, for example — can’t be done. Apparently, we don’t have enough melamine to make anything for ourselves…
I will not miss Circuit City. Last time I went to one, my wife and I were in the market for a new printer. We tolerated the shrill-as-disco-with-hip-hop-bass loud, loud music, hanging around the printers for twenty minutes before we left in disgust, never having laid eyes on a store employee.
Sears and Radio Shack, though, are a different story! Where will we get our batteries? Before it was totalled, our previous car was working on the ninth year of a four year Die Hard battery. The current chariot is in year seven of a four year battery, though it’s about to go. Still not bad, though. And every piece of electronic equipment I’ve ever bought at Radio Shack (and I’ve been a customer in three states and for over 36 years) has been technically excellent for the price.
I’m an IT contractor sold from Circuit City STS to ADT to Qualxserv, to maintain all the systems at Circuit city. Same job, different owner. Over the last 12 years , I have seen all the lay-offs, stupid projects that failed, over spending, cheap merchandise, the list goes on and on. The best idea the District managers had was to purchase leave blowers to clean the warehouse floors! And they wonder why the stock is at .35. I will have to close some of the 150 stores when they do so! Karma works!