Circuit City to close all remaining stores effective today!!

[In2deep]

CC is to liquidate all remaining stores effective today, they could not receive any more funding to help them out, good news for us at Conn's!!! :tu:

[tiffo60]

I wonder if there having any rediculously cheap sales going on....

[TXLIGHTNING]

I wonder if there having any rediculously cheap sales going on.... +1 I might stop by the local CC after work.

[98Cobra]

No, no. Pending court approval, CC stores will begin liquidating this weekend. They should all be closed sometime in March.

Use your gift cards NOW though.

[In2deep]

Yeah and don't buy any warranty and don't special order anything!!

[In2deep]

My bad, yes it will take a few months to liquidate the remaining stores.

[ZeusSVT]

CC is to liquidate all remaining stores effective today, they could not receive any more funding to help them out, good news for us at Conn's!!! :tu:

Good news for you, yeah. You fail to realize how many people are losing their jobs with this happening huh. Not that I am affected by it, but that's pretty selfish thinking on your part. :hammer:

[mustgofaster]

A guy that I'm in class with, (as I type) is a manager for CC. He says the prices will actually go up for the next 3 weeks, (though they will be advertising liquidation sales) Then drop off.

[In2deep]

Harsh, i would say a bit, most of the good people with circuit where eliminated like myself back in 01.. Sorry for the excitement on my part to see that the company gets what it deserves,Circuit put me and my family in a bind for four months while i relocated. On the up note we will be recruiting a ton of there staff in are area to join us at Conn's..

[dboat]

A guy that I'm in class with, (as I type) is a manager for CC. He says the prices will actually go up for the next 3 weeks, (though they will be advertising liquidation sales) Then drop off.

We went to the one here in Erie tonite.. the wife asked the guy about how soon we should see prices drop and he told her the same thing.. this way they can try to optimize their current stock, then be able to advertise discounts although the discounted price will really be back to where the prices are now.. its all in the liquidators hands now..

Dana

[mikelemoine]

Its scary to see a big retailer like CC just up and die off. What is ironic is that CC killed many small electronic stores with its big box pricing, and ended up being eaten by even bigger stores (along with bad mgmt decisions). While I couldn't care less about another greedy corporation biting it, I do feel sorry for yet another round of workers being put out on the street. I hope the execs enjoy their golden parachutes while the worker bees suffer.

In regards to the liquidation sales, they are a rip off! They will have the guys outside with the STORE CLOSING signs directing bargain hunters in (ever notice every going out of business sign looks the same, same font and text with a different store name!). In reality, the bankruptcy attorneys hire a professional liquidator to come in and recover as much of the creditors' losses as possible. If you decide to shop one of these sales be sure to take a web enabled phone and compare prices online while in the store. You'll often find the prices were inflated then discounted down to market price to fool the consumer. Buyer beware as usual!

[SVTlightning87]

Conns kicks ass David sold me a bad ass tv, Samsung Toc 52 in, Hells Yeah:tu: I think I posted a thread about that...

[L8 APEX]

The Conns in Lewisville looked like a thrift store when I walked it. Lawn mowers, jam boxes, TV's couches, guitars... A half empty showroom of hodge podge crap:rolleyes:

[Silver_2000]

The Conns in Lewisville looked like a thrift store when I walked it. Lawn mowers, jam boxes, TV's couches, guitars... A half empty showroom of hodge podge crap:rolleyes:

I walked in one about 5 years ago and saw the same thing and have never been back

[In2deep]

It pays the bills, i agree they have a different selection of things, but its a credit driven store, that in most cases gets almost anyone approved!! The showroom is not dynamic by all means, they would rather concentrate on prices and that's why are business is strong!!

[ZeusSVT]

It pays the bills, i agree they have a different selection of things, but its a credit driven store, that in most cases gets almost anyone approved!! The showroom is not dynamic by all means, they would rather concentrate on prices and that's why are business is strong!!


Nothing against Conn's since I have never been in one....but stuff like that right there is most of the reason the economy is in the shitter to begin with. :tex

[In2deep]

Well if you ever do decide to shop conns never be late on a payment they call u the day after its do and dont let up, they will go as far as driving to your home and picking the stuff up after 90 days of late..

[SVTlightning87]

Don't be takin my TV, of course I've never been late on a payment of anything so no worries :icon_mrgreen:

[dboat]

Its scary to see a big retailer like CC just up and die off. What is ironic is that CC killed many small electronic stores with its big box pricing, and ended up being eaten by even bigger stores (along with bad mgmt decisions). While I couldn't care less about another greedy corporation biting it, I do feel sorry for yet another round of workers being put out on the street. I hope the execs enjoy their golden parachutes while the worker bees suffer.

I bet the execs dont get any golden parachute here with a bankruptcy like this one.. also, was CC greedy? I would find that hard since they were in a very competitive market.

Dana

[gbgary]

this might be the perfect time to get that garmin nav i've been thinking about.

[In2deep]

Not really, like i said i was involved in the first layoff in early 02 not 01, since then there has been five more layoffs, anyone making any money in the company has been let go. The last time i walked into a circuit city i counted four people in the one located at the parks mall, no way to run a business!!

[TXLIGHTNING]

Not really, like i said i was involved in the first layoff in early 02 not 01, since then there has been five more layoffs, anyone making any money in the company has been let go. The last time i walked into a circuit city i counted four people in the one located at the parks mall, no way to run a business!! The local CC in Longview is right next door to Best Buy. There will normally be around 4-6 cars at the CC, and the BB will be full. It has been that way for some time now.

[mikelemoine]

I bet the execs dont get any golden parachute here with a bankruptcy like this one.. also, was CC greedy? I would find that hard since they were in a very competitive market.

Dana

Dana, you caught me making assumptions! :bows Although I am probably at least partially right. Most big corporations are very greedy because of their exec pay and incentive structure which rewards too much for short term gains. In regards to golden parachutes, it will be interesting to see what happens. I know that many other bankrupt companies still managed to pay the execs even as shareholders and creditors lost out big. They were definitely greedy in firing tenured employees a few years back to save money and make the short term earnings look better. The long term suffered because they let the more experienced employees go and hired people who don't know as much about electronics. That was either greed driving bonuses, or just plain bad decision making! I am curious to learn more about what differences CC had from its competitors that made them fail while others survived. Maybe they were all in the basically the same condition and CC was just the first one to fold. Anyway it will be interesting to learn more as this comes to light.

On a positive note, there is still a chance they will be sold and remain open. While they will still likely consolidate, hopefully it will save at least some of the current 30,000 jobs in jeopardy.

Here's hoping things get better soon.

[Sandman]

http://cache.gawker.com/assets/images/consumerist/2008/11/circuitcityisundone.jpg

[dboat]

http://cache.gawker.com/assets/images/consumerist/2008/11/circuitcityisundone.jpg

I am not a retailer genius by any stretch, but if you ask me, the downfall started when a decision was made to change the workforce.. I am in a field where customer service does make a difference.. in retrospect, which is always easier, had they maintained the knowledgeable workforce and changed their pay or at least put in an employee profit sharing plan that would have paid them $$ for at least two things, customer service ratings and store profitability, you might have seen a different outcome. This way the long term stable workforce has a reason to stay and to provide a high level customer service. Their fortunes MIGHT have been better, however, CC also made a decision to change the product offerings as well. I will say that the electronics industry is a tough hard business with plenty of competitors, bricks and mortar, as well as, internet based.. with most customers looking to buy at the lowest possible cost.. so their survival was never a guarantee no matter how good the customer service was. But I do think that people will go to a place where the associates are knowledgeable and they dont get hassled but rather receive help when its wanted. Just MHO..
Dana

[98Cobra]

http://www.wfaa.com/sharedcontent/dws/wfaa/latestnews/stories/wfaa090528_wz_conns.25da2da9.html

[In2deep]

2,000 complaints with over 1,500 resolved out of 1.3 million transactions last year..

[gbgary]

.com only...

http://www.circuitcity.com/

[In2deep]

The company's statement said Conn's has received the highest A+ rating from the Better Business Bureau. "The complaint rate, for all our stores, to the BBB was less than one-tenth of one percent," Nylin said.


Best Buy, gets an A- Reliability Report rating from the BBB.

[98Cobra]

No offense, but if you are a member of the BBB, it is pretty hard to get a bad rating. If you arent a member, otoh, you are screwed. Also, a complaint is counted as "resolved" if the complainer doesn't respond to Conn's response within a certain amount of time.

The story also doesn't mention if the AG is suing based on the BBB filing numbers, or complaints directly to their office - I am sure its the latter.

[Moonshine]

this might be the perfect time to get that garmin nav i've been thinking about.

Beware. I bought a Nuvi i260 when Sharper Image was going out of business. Thought I got a great deal, but a year later the maps are all out of date, and updates have to be purchased through Garmin for almost 1/2 of what I paid for the stinkin GPS. :hammer:

[L8 APEX]

Updating maps is a fact of life. Obviously the gps companies can't predict all changes in businesses and roads. I buy a new map card every 3-4 years on average.

[98Cobra]

There are other methods for obtaining the newest maps, too....


:cool:

[my2002lightning]

Yep, it's all out there.


There are other methods for obtaining the newest maps, too....


:cool:

[Moonshine]

Updating maps is a fact of life. Obviously the gps companies can't predict all changes in businesses and roads.

An occasional update for a reasonable fee wouldn't be too bad, but being expected to spend 50% of the original purchase price within a year of purchase didn't sit too well with me.

Garrett, tell me more. Is it legal?

[Sandman]

Is it legal?

If you have to ask...

[my2002lightning]

It's only illegal if you get caught.:D


An occasional update for a reasonable fee wouldn't be too bad, but being expected to spend 50% of the original purchase price within a year of purchase didn't sit too well with me.

Garrett, tell me more. Is it legal?

[tiffo60]

It's only illegal if you get caught.:D

I need an update for the Tom Tom:D

[98Cobra]

The maps can be downloaded from Bittorrent or other file sharing sites. Is it legal? Ehhhh.....

It should be illegal to sell a device and then charge so much for the updates. Hello planned obsolesence.

[my2002lightning]

Brian / Tifton,

You can mouse around bearshare and limewire, as well. Just turn off your file-sharing option.

Also, I understand that they have GPS units for professional drivers/truckers that will give you real-time traffic updates, weight-restrictions for bridges, height limitations for overpasses, etc. etc.



I need an update for the Tom Tom:D

[Sandman]

You can mouse around bearshare and limewire, as well. Just turn off your file-sharing option.

Using those services is like sleeping with a girl who has an std... It may be fun and free, but you know you're gonna get something.

[my2002lightning]

True. Just scan the livin'-hell out of any .exes, etc. with the latest anti-virus definitions and all should be good.



Using those services is like sleeping with a girl who has an std... It may be fun and free, but you know you're gonna get something.

[Silver_2000]

using those services is like sleeping with a girl who has an std... It may be fun and free, but you know you're gonna get something.

+1000
Consider the source

[mikelemoine]

I have an Eclipse AVN5495 HU and they want $350 for the update. What's worse is that due to a software bug in the HU you have to remove it and mail it into them to have them install it for you instead of just loading a CD. They also change the hard disk out so you lose all of your music.

I'm just dealing with the outdated maps, it'll get you there if you know the address, the POI is a crap shoot. :mad:

[In2deep]

I have an Eclipse AVN5495 HU and they want $350 for the update. What's worse is that due to a software bug in the HU you have to remove it and mail it into them to have them install it for you instead of just loading a CD. They also change the hard disk out so you lose all of your music.

I'm just dealing with the outdated maps, it'll get you there if you know the address, the POI is a crap shoot. :mad:


I love that head unit>>

[L8 APEX]

An occasional update for a reasonable fee wouldn't be too bad, but being expected to spend 50% of the original purchase price within a year of purchase didn't sit too well with me.

Garrett, tell me more. Is it legal?
The cost of the equipment is disocunted by the map retailers. The equipment is so cheap is why the maps seem so expensive. Just like cell phones. If you buy one outright it is 250-600 bucks. If you buy with a plan it is free or 99 bucks. GPS units could cost a lot more I am sure the map people subsidize the cost.