Circuit City in trouble
p2pnet news view | Off Topic:- Fortune 500 company Circuit City, the huge American electronics chain, is in deep trouble.
It’s filed for bankruptcy protection only a week after announcing plans to close about 20% of its stores.
But it was business as usual on its website which was still offering Christmas goodies at 9:30 am Pacific.
“Bankruptcy protection is a legal mechanism which allows a troubled company to keep its creditors at bay while it draws up a new business plan, which has to be approved by a bankruptcy judge,” explains Times Online.
“The process is devised to buy time for distressed companies to sort out their problems, cut costs and prevent them from going bust.”
The company has, “faced particularly tough competition from Best Buy, which has increased its market share,” says the BBC, and adding:
“Best Buy recently said it would consider buying rivals’ closed stores.
“In September, Circuit City’s chairman and chief executive Philip Schoonover stepped down.” 
Times Online – Circuit City files for US bankruptcy, November 10, 2008
BBC – Circuit City files for bankruptcy, November 10, 2008
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November 10th, 2008 at 3:33 pm
I say let ‘em burn. CC probably had the worst CD and DVD prices in town. Also A few years back they laid off many of their more technically experienced customer service people and hired cheaper help because “in this day and age most customers know what they want and don’t need much technical assistance”. It was quite apparent when I was last in a store and the kid working the TV department didn’t know what an HDMI cable was (not to mention ALL of their HD sets were set up wrong).
November 10th, 2008 at 5:29 pm
Too many people at the steering not enought people at the rowing and Bam! they sink.
November 10th, 2008 at 8:39 pm
Circuit City won’t be missed. They would advertise DVD’s on sale and not have them in stock, salespeople trying to upsale (is that a word?) you, cranky cashiers. I’d go to Best Buy first (of course not for my CD needs, mmwah ha ha ha ha)
November 11th, 2008 at 3:00 pm
I’ve never had trouble with CC. I will miss them terribly. All five stores in my area are slated to close. I HATE BB!!! I quit shopping BB when CC first came here. BB=”Do no evil”…..yeh, riiiiiiiiiiiight!!!!!!!!!!!!
December 17th, 2008 at 11:39 pm
Well I am an ex circuit city mgr, with everything in me i can honestly say they have made bad move after bad move.
I spent 9 years with Circuit City , Started as an Audio specialist in September of 1998 worked my way up to sales Mgr an Operations Mgr, and then a store Mgr and it’s a shame I had to watch it happen, from the hiring of and ex best buy CEO to letting go of comission based employees.
They wanted so much to be like Best buy that they began to hire Best buy managers that couldn’t cut it there, bringing them in and paying them large salaries only for them to fail here too.
They went from being operationally sound to being stupid, they used to count the merch being sent and recieved at the store level, operations Mgrs had time and where allowed to do their jobs.
To blind recieving merch in there stores, which left them open to alot of theft with no way to stop the bleeding, stores that barely had any shrink began to leak like a the titanic.
Circuit city is a shell of the company I came to love, we had the most knowledgable associates, the best prices because even if you found it for less, we were cheaper with our low price guarantee.
The level of customer service is what made us great, every morning we ask our selves this question: customers can shop anywhere thy want why? with us. And we did everything in our power to keep it that way.
Keep in mind there are just some customers that you just can’t please, you know who you are? the ones who come in the store to give hard working people a hard time.
opportunies:
1) Divx
2) firing of commissioned associates
3) Blind recieving merch
4) And the biggest of them all The hiring of Phillip Schoonover
What in the blank was Danny Clark and the good old boys thinking ? I will miss that store , the kids i helped raise and watch grow up to be fine men an woman in my years there, the many customers that I Did make happy.