Circuit City to Liquidate

Posted by the dood on Monday, January 19th, 2009

Circuit city announced late on the 16th that their talks of an acquisition had fallen through and that they were going to liquidate. No more Circuit City! 567 stores to close in the US, which means that a lot of stock will be liquidated and sold to large retailers and wholesalers like Costco. Keep your eye out for deals.

The Source in Canada will not be closing, but a few stores will close apparently. The small chain has not been mismanaged in quite the same way, so they will continue to operate and will not be liquidating.

The unfortunate thing with this incedent is that so many people are going to be out of work, and they will be hardpressed to find another job in this poor US Economic climate. I wish them all the best. For the rest of us, good electronics hunting!

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