Image Courtesy of Qnr
Update 11/16/2008: I've gone to Circuit City for the past two Saturdays since the store closings were announced. Here's what I've learned:
- Even though the sign on the front of the store says up to 30% off, big ticket items are still only 5-10% off. This includes flat screen televisions (10%) and computers (5%).
- Most of the televisions and computers they have for sale are floor models or open box items.
- Some of the prices on the televisions have been marked up to account for the 10% discount!!
Why the move to close so many stores? “Due in part to its deteriorating liquidity position and the continued weak macroeconomic environment, the company has decided to take certain restructuring actions immediately, including closing 155 domestic segment stores, reducing future store openings and aggressively renegotiating certain leases,” the company said in a news release.
The company will be closing all 16 stores in the Atlanta area and Macon, Athens and Warner Robins. The company will be also be closing all stores in the Phoenix, AZ area. The closings are scheduled to be completed by the end of the year.
If you are looking for a great deal on electronics this holiday season, you may need to look to Circuit City. Of course, you shouldn't make a purchase you previously had not planned to make just to save money that you had not planned to spend in the first place.
For a list of store closings, click here.