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That's it. Pack it up. Pull out the tarp. Circuit City has moved into liquidation and will sell all inventory as well as close every store. Stores will close on March 31st. We passed comments around about why the chain failed it mostly came to the conclusion that it was the rapid expansion without building cash reserves. There are two stores within 8 miles of each other (a new one was being built) in my area alone.
I love when people blame the "credit freeze" for failed business practices.
That's it. Pack it up. Pull out the tarp. Circuit City has moved into liquidation and will sell all inventory as well as close every store. Stores will close on March 31st. We passed comments around about why the chain failed it mostly came to the conclusion that it was the rapid expansion without building cash reserves. There are two stores within 8 miles of each other (a new one was being built) in my area alone.
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"This company made massive mistakes," he said, citing a decision to get rid of sales people and other mismanagement. What's more, given the credit market freeze, Whalin added that no manufacturer wants to sell to any retailer who doesn't have money to pay for the merchandise. At the same time, Whalin said there's still a very slim chance that one or more firms that have expressed an interest in buying Circuit City could still buy it out of bankruptcy over the next few days. "I wouldn't say it's completely over yet for Circuit City, but it's almost over," Whalin said.
I love when people blame the "credit freeze" for failed business practices.