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| Home Front Economy |
| Circuit City to liquidate remaining US stores |
| 2009-01-16 |
| Just saw this on the local news: RICHMOND, VA (WWBT) - Circuit City Stores Inc. says it has reached an agreement with liquidators to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal. Former employee who was in court said Salinas (Mexican billionaire/largest Circuit City stockholder) not only didn't buy the company, but refused to respond to CC lawyers about buying it. As the guy said, Salinas just "jerked them around." Wonder what his agenda was. Circuit City is headquartered in Richmond. They made some stupid management decisions over the years, not the least of which was getting rid of large appliances (which people need even in bad economic times) and going with all electronics (which in bad economic times are optional). 30,000 jobs lost nationwide. Very sad. Link to a longer story about it. |
| Posted by:Barbara Skolaut |
| #1 It's not personal. It's just business. -- Mike Corleone |
| Posted by: mojo 2009-01-16 21:48 |