Circuit City Files for Bankruptcy

Wow...I was way off the target on this one. I expected them to file sometime after Christmas but I guess things are truly dire for them to file this soon. I went into their Bayshore store on Sunday, it was pretty empty already. It will be very interesting to see if they can make it, I don't have high hopes.

Quote:

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Circuit City files for bankruptcy protection
Circuit City Stores, the nation's second-biggest electronics retailer, filed for bankruptcy protection Monday but will stay open for business as the holidays approach.
http://www.msnbc.msn.com/id/27641634/from/ET/

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[Gets the iPod out - searches for Queen song - starts singing....] Another one bites the dust....

They had someone on that overpass with a big sign of the sales they are having. Doesn't look good. With competition from Best Buy and the net and economy I doubt they will make it.

CC has no one to blame but themselves. Yesterday their CEO cited the housing crisis and the credit crunch for causing people not to buy electronics. Problem is, if you look at the quarterly reports from Best Buy and Amazon, people ARE still buying electronics, they're just not buying them from Circuit City.

From my own experience I never found Circuit City to be any better or worse than Best Buy. I know a lot of people hate one or the other or both. Neither is great, but less competition is always bad for consumers.