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6:51 p.m. • 2-10-12

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Circuit City closes store doors


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All of Circuit City's stores will close for good by Sunday, powering down what once was the nation's second-largest consumer electronics retailer.

In Raleigh, a Circuit City store, at 4601 Creedmoor Road, planned to shut its doors to the public at 4 p.m.

Four liquidators that have been working since January to sell off Circuit City's remaining $1.7 billion worth of inventory at reduced prices. Liquidators say they are running out of inventory a week early because customers have been buying the discounted items.

The Richmond-based company announced in January that it would liquidate its remaining 567 U.S. stores and lay off about 34,000 employees after it failed to find a buyer or secure refinancing under bankruptcy protection.

Almost all of the inventory has sold, and nothing will remain when the stores close. A small staff will remain at the corporate office after Sunday to finish winding down the company.

 

RELATED TOPICS: Raleigh

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I always liked Circuit City. I enjoyed the DVD selection. I am sorry to see it go.

Capitalism still works. Good riddance, Circuit City crooks.

A friend and I had stopped in during their "going out of business" sale and found the selection was bad - which is to be expected - but the prices, even at 20% off, were still higher than the regular prices for the same brands/items at Wal Mart. If they wonder why they went out of business, overpriced goods may be a reason.

Circuit City was not as good of a store as it's competitor Best Buy.

I went there a few times to buy a movie. Both times I found the entire movie section in complete disarray with no logical ordering whatsoever. It was like a pack of wolves came through. It took forever to find a movie.

Oh, I never went to their closing sale, this was years ago.

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