banner
Business

Circuit City closes store doors

Posted March 8, 2009

Map Marker  Find News Near Me

— 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.

5 Comments

This story is closed for comments.

Oldest First
View all
  • teacher-mom Mar 9, 2009

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

  • s.wake.co Mar 9, 2009

    Capitalism still works. Good riddance, Circuit City crooks.

  • vigorlady Mar 9, 2009

    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.

  • DontLikeTheSocialistObama Mar 9, 2009

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

  • jbtilley Mar 9, 2009

    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.