Monday, November 10, 2008

Circuit City Just Filed for Bankruptcy - bargains anyone?

This just in, about an hour ago...

Circuit City just filed for bankruptcy

My daughter was just in the Frederick Circuit City and she saw about 20 employees just milling about, with nothing to do?

I smell BARGAINS, do you?

Christmas is coming and none of us have as much to spend as we did last year...

I got this tidbit from Yahoo:

Actually someone on Twitter posted it and I just happened to spot it, what caught my attention is that one of my daughter's computers hard drive failed and I just suggested that she go to the Frederick Maryland Circuit City to price a new one, We don't have a CompUSA in Frederick?

The company said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday period. The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.

Circuit City filed for Chapter 11 protection, which will allow it to hold off creditors and continue operations while it develops a reorganization plan. Its Canadian operations also filed for similar protection.

Doing so "should provide us with the opportunity to strengthen our balance sheet, create a more efficient expense structure and ultimately position the company to compete more effectively," James A. Marcum, vice chairman and acting president and chief executive, said in a statement.
Issue #16
November 10, 2008

Email David Bruce at

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