Circuit City to liquidate

Circuit City to liquidate remaining US stores
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20090116&id=9500775

(AP) - Circuit City Stores Inc. says it has reached an agreement with liquidators to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.

Ahhhh, what do I need to buy...

Just be careful with the pricing in these "going out of business sales"

The following link covers other stores as well.

http://abcnews.go.com/GMA/Story?id=6326174&page=1

This is an excerpt from an ABC investigation specific to Circuit City.

We also visited a Circuit City store that is closing. It's a different situation there. Only 21 percent of Circuit City stores are going under, while the rest of the chain tries to stay afloat. In that case, Circuit City has hired two liquidation companies, Hilco and Gordon Brothers, to run its going-out-of-business sales.
At Circuit City you could see where the old price tags had been cut out of the product displays with a pair of scissors. Once again, just asking as regular shoppers, we spoke to a clerk and asked why they had gotten rid of the old prices.

"We don't go by the Circuit City price anymore," she told us. "It's the liquidators' prices now."

By now the description sounded familiar. She said the liquidator had raised many rates up to the regular price before the sale began, "and then deducted the, like, 30 [percent] to 20 [percent] or 10 percent," she told us.

So how do the liquidation prices compare overall? Because only part of the Circuit City chain is going out of business, it was a rare opportunity to compare prices at regular stores run by the company with those at closing stores run by the liquidators. The two are not connected.

One example: We saw a Samsung HDTV that was only available as an open box item at the liquidation store and cost $1,799 with all sales final. But at Circuit City's regular stores it was available for $1,599 brand new — $200 less, plus we could return it.

The clerk in the liquidation sale TV department gave us some advice.

"To be honest, I would go to a normal Circuit City for bigger TVs," she said. "But you didn't hear it from me."

Of the 60 electronics products we compared, a third were the same price or less at regular Circuit City stores. And the majority of those that were cheaper at the liquidation sale were only 5 percent to 15 percent less.

When we told consumers outside of a going-out-of-business sale about our findings they were amazed, but not surprised.

"What does going out of business mean if you are jacking up the price rather than lowering the price?" said one woman.

"I think anything that they put a 'sale' sign on, people are going to be more inclined to buy," another said.

Good info Canuck. Thanks for the heads up.

I have a friend who wants to get a 32" HDTV and I'm trying to help her find the best one. I will stop at HH Gregg before I go to Circuit Shitty

Alright! You'll get to pay even higher prices as the liquidator tries to make as much money as possible through mis-advertising and ripping you off.

Canuck wrote:Only 21 percent of Circuit City stores are going under

FYI. It's now being reported on NPR that all stores are liquidating.

Yes, that article was done when it was CC and Linen and Things closing, now all of CC is closing.
I just posted it for the awareness of the pricing strategy the liquidators are using.

If they do it like they did at Linen and Things then I probably won't even bother.....They put everything back to msrp and started at 10% off.