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Circuit City files Bankruptcy


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#1 CommonSense

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Posted 10 November 2008 - 10:16 PM

So today, Circuit City filed for Chapter 11 bankruptcy. They are not being shut down, but are given a chance to reorganize, and try and get back on top of things financially.

So, this also means (according to my Accounting teacher) that they do not have to honor any Gift Cards and Warranties once it is "official" (I forgot what term he used).

More at CNet

And for those that don't know what Circuit City is. Circuit City is an American dealer and retailer in brand-name consumer electronics, personal computers, and entertainment software. (From Wikipedia).

Edited by CommonSense, 10 November 2008 - 10:57 PM.


#2 endrit10

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Posted 10 November 2008 - 10:53 PM

What is Circuit City?

#3 CommonSense

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Posted 10 November 2008 - 10:54 PM

If you're American, you should know. And if not, I just edited it.

I just though it was tech-related. And I'm not sure how many actually shop in stores. But, it's just more news in the ever falling economy in America. :(

Edited by CommonSense, 10 November 2008 - 10:59 PM.


#4 Freka

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Posted 10 November 2008 - 11:03 PM

Oh wow I guess this shows how deep this financial crisis is... It's a shame to see this because Circuit City is a good place to buy electronics with a decent price.

#5 endrit10

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Posted 10 November 2008 - 11:27 PM

Victory!
Is piracy winning this bad?

Just kidding,
There are plenty of other places so this cant be a massive impact.

#6 adrynalyne

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Posted 10 November 2008 - 11:35 PM

I recently priced out a computer to setup for POS, and Circuit City by far had the best price on the computer package.



It was a complete system, with LCD, tower, and printer for under 500 dollars.

The machine even had 3gb of ram in it.


I will miss Circuit City :(

#7 endrit10

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Posted 10 November 2008 - 11:38 PM

They are not necessarily gone just yet!
Have hope adrynalyne!

'Faith is rare in these times'

Thats because democracy ate it but thats a different story :D

#8 InlineSkate

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Posted 10 November 2008 - 11:50 PM

I recently priced out a computer to setup for POS, and Circuit City by far had the best price on the computer package.



It was a complete system, with LCD, tower, and printer for under 500 dollars.

The machine even had 3gb of ram in it.


I will miss Circuit City :(


Its not closing read the article

#9 adrynalyne

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Posted 10 November 2008 - 11:52 PM


I recently priced out a computer to setup for POS, and Circuit City by far had the best price on the computer package.



It was a complete system, with LCD, tower, and printer for under 500 dollars.

The machine even had 3gb of ram in it.


I will miss Circuit City :(


Its not closing read the article



Time will tell. I've yet to see a company like this crawl out of a bankruptcy and survive. Thats why I am paying my respects now, even if an article doesn't say they are closing.

Edited by adrynalyne, 10 November 2008 - 11:54 PM.


#10 CommonSense

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Posted 10 November 2008 - 11:57 PM

Yeah I agree. It really is a sad thing. I bought my first laptop there. We will have to wait and see. We can't just have Best Buy :lol:

@endrit10
How old are you? I thought you were like 18 because of your humor.

#11 endrit10

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Posted 11 November 2008 - 12:10 AM

Im 16.

In the UK,

I can drink beer with a meal
I can have sex legally.

Edited by endrit10, 11 November 2008 - 12:19 AM.


#12 pm_41

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Posted 11 November 2008 - 12:12 AM

Circuit City has some good stuff...Hope they don't close forever...

I just though it was tech-related. And I'm not sure how many actually shop in stores. But, it's just more news in the ever falling economy in America.


Hopefully President Obama can turn the country around...

#13 CommonSense

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Posted 11 November 2008 - 12:39 AM

Im 16.

In the UK,

I can drink beer with a meal
I can have sex legally.

Lucky.

Can't drink legally at 15 over in America :(... :devil:

@Winlover_41
I hope so too. My family's Republican, but we are giving him the benefit of the doubt and hoping he can. I don't care who can save us. As long as they do, and keep it from not dropping again (yes a very high hope).

Edited by CommonSense, 11 November 2008 - 12:46 AM.


#14 henrydtv

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Posted 11 November 2008 - 01:31 AM

Hmm i liked circuit city

#15 phoenix_abhi

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Posted 11 November 2008 - 07:52 PM

This is happening to the whole world, though the new era of USA may make the come back of strong economy. I have lost million (INR) in stock market, but still I am not pirate ha ha

#16 endrit10

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Posted 11 November 2008 - 08:07 PM


Im 16.

In the UK,

I can drink beer with a meal
I can have sex legally.

Lucky.

Can't drink legally at 15 over in America :(... :devil:

@Winlover_41
I hope so too. My family's Republican, but we are giving him the benefit of the doubt and hoping he can. I don't care who can save us. As long as they do, and keep it from not dropping again (yes a very high hope).


Im 16.
And i dont even drink i just wanted to mention that i could.

#17 exxon007

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Posted 11 November 2008 - 08:35 PM

Circuit City has some good stuff...Hope they don't close forever...

I just though it was tech-related. And I'm not sure how many actually shop in stores. But, it's just more news in the ever falling economy in America.


Hopefully President Obama can turn the country around...



I doubt that he could in 1 term, he's no miracle worker. At least he's a better choice than the old man and his secretary. :D

Edited by exxon007, 11 November 2008 - 08:36 PM.


#18 CommonSense

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Posted 11 November 2008 - 09:12 PM

Update on Circuit City
More from CNet

Maybe they will bounce back. I don't know how the bank has that money though.

Edited by CommonSense, 12 November 2008 - 12:23 AM.


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