What’s going on at Circuit City??

Its a sad day for us nostalgic types.  Although I never had a particular affinity for Circuit City, it still is an icon of our society that we all heard of, went to , or even preferred.  I guess its just a jolt of reality, of change, of life…to see that such a huge institution will no longer exist.

A recession is a helluva drug

The City is put to sleep

  • Due to challenges to our business and the continued bleak economic environment, Circuit City is going out of business and the company’s assets will be liquidated to pay off creditors.
  • The process was extremely difficult and we were left with no other choice but to liquidate.  Circuit City had a proud heritage of serving the public for 60 years and we deeply regret the impact this decision will have on our associates, our customers and the communities where we have operated stores and other facilities.
  • We had hoped to be able to emerge from Chapter 11 bankruptcy protection as a stronger, more competitive company and we made significant progress during the reorganization to improve our business.  Unfortunately, the economic climate is so poor that we have no choice other than liquidation.
  • Liquidators will start arriving in our 567 stores across the U.S. over the weekend, and closing sales will start as early as Saturday, January 17.  Closing sales will run as long as it takes to sell existing inventory, but are expected to wrap up by the end of March.  When the liquidation sales are completed, the stores will be closed.

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