Consumer electronics chain Circuit City is pulling down the shutters and kicking out 30,000 employees on to the streets.
The ailing consumer electronics giant is liquidating.
Over the years, we’ve purchased many products from Circuit City including PCs, TVs, Cameras, software, CDs, DVDs,Â vacuum cleaners (they once sold that too), music systems and more.
James A. Marcum, vice chairman and acting president and chief executive officer for Circuit City Stores said:Â
Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company,
We’ve seen so many electronics chain stores close – Good Guys, Computer City, CompUSA,Â Montgomery Ward, The WizÂ et al. Less competition is definitely not good for the consumer.
Circuit City had knowledgeable employees initially but lately the stores have been staffed by clueless bozos.
A few months back, when we went to a nearby Circuit City store and asked about Apple TV,Â the sales person had no idea what we were talking aboutÂ and told us Apple was not selling TVs.
We gave up and went to the Best Buy across the road. The kid at Best Buy immediately knew what we were talking about and showed us the product (ultimately, we decided not to buy Apple TV and stayed with the Roku box and the Netflix service).
Is Best Buy the only national consumer electronics chain left standing?