Circuit City files for bankruptcy protection

Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday shopping season approaches.

It filed under Chapter 11 of the bankruptcy code, which will allow it to hold off creditors and continue operations while it develops a reorganization plan

[Noctis Lucis Caelum]

Good to hear, i'm going on a shopping spree at circuit city this holida season, we can expect some great deals.

[UltimateIdiot911]

To be honest, CC has been pumping out great game deals especially on new games. I'm still piss at how I didn't get my artbook for Valkyria Chronicles from Gamestop. Right now in the process of b!tching and moaning to gamestop about the artbook.

Valkyria Chronicles for $45 is a great deal. The game is simply amazing, not for everyone but definitely worth playing for those who enjoy strategy rpg.

[psnDevistator356]

FTW!!!

[GrammarPolice]

It's too bad, Circuit City always seemed like they were on the cusp of becoming a true rival with Best Buy. Customer service was always a problem for me whenever I went to a store- they seemed to not care a whole lot and there was always only one register open. Not that BB's service is all that much better but I have left merchandise on the candy rack and left in frustration more often in CC than I have in BB. Maybe with Chapter 11 protection they'll be able to reorganize, retrench, and reinvent themselves into a more customer friendly (and profitable) organization.

[etownone]

i agree, especially with the great deals on video games. I always wait till the week a game come out to see who has the best deal, and it's usually CC.

[ChrisGTR1]

its wierd, you know how compUSA was bankrupt or something and closed all their stores down well a compUSA here opened up a few months ago, kind of wierd after going out of buisness and all.

[Cheeseknight28]

Tiger Direct bought out the CompUSA brand and reopened a few stores.

[joebahrjoebahr]

from all of the LBP's they bought and all the different ps3 systems that never got sold.

or the rrod returns( i beat you ps3 chumps to it,

[NovusTerminus]

Prolly due to Obama getting in office. Increasing taxes on a company this large to 60% is going to hurt, allot.

[kydrice]

I heard it was Obama's fault that a star in a distant galaxy blew up and killed 13 billion inhabitants of a nearby planet.

Give me a break, Obama is not in office yet you chump, Bush is still president and Obama isn't going to be president Until the 20th of January. Also, Circuit City has been bleeding for ages why do you think they had to shut down 155 stores across the nation? Get your butt-hurt repub ass and your politics off N4G.

[pwnsause]

it was as Sony Predicted this year, these guys are going to file for Chapter 7, and they did.

[sinned47]

this sucks. i shop at circuit city rather than best buy because they offer gift cards on most big hit games.

[FantasyStar]

Yah, I bought my Halo 3 Xbox 360 at CC because they had a $60 Gift Card. See ya later Circuit City. The HDTV I bought from you guys will be a tribute to people that actually knew what they were talking about. Unlike BB.

[GrammarPolice]

I hear you, but there is an "Obama effect" that is happening now. For instance, well-known (and well-hated) professional sports agent Drew Rosenhaus is already jockeying to pry more money from owners for his clients because Obama proposes higher taxes for the rich. Even though he's not yet in office, those in big business are looking at their strategies for the new administration. Not saying this is a bad thing, nor am I saying this has anything to do with Circuit City's move given their past history. Just saying that the Obama effect is real and it has nothing to do with being a Republican or Democrat.

[kewlkat007]

so now thye get all the sales besides the sears which is right there too.

Something I noticed is the young and lazy workers that don't care much about the job give off a bad impression. especially with the CS department. I notice the people that are hired to sell Electronic products don't know jack squat about what they are selling and is not that excited about it.

They need to raise the pay and the hiring standards which will attract the more knowledgeable guru that is more hungry.

To some it's just an after school job..no passion for what they sell and service.

[Kyur4ThePain]

Last year CC went on a firing spree (probably to cut costs) and got rid of most of their higher paid, more knowledgeable staff.

[bomboclaat_gamer]

are you guys serious. this is to show that the economy is going in a deep hole and all u can think about is deals and games?

[joydestroy]

haha

[Kyur4ThePain]

We'll all go sit in the bath tub and have 10 minutes of silence.
Then can we talk about deals?

[FantasyStar]

Why the bathtub? You got a fetish in there or something? ;)

Bombo, while I do feel for the workers that are getting laid off. There's nothing we can do for them. The only thing we can do as consumers is to keep spending and bolstering our economy so that more jobs can be created and those jobless CC people can now find new work.

[JUSTICEFORALL]

HELL YEAH its better them paying 59.99 for one game.... i know where im going for a spree

[specialguest]

I wonder if Circuit City will have a double discount. One for their out of business sale and the other one for Black Friday.

[NovusTerminus]

It is true he is not yet in office. but he did win, and CC is prepping for the tax increase, which might be too much for them to survive.

Also, I do not care who won the election. I hated everyone running. I am not a butt hurt republican. I could care less if McCain won. I could care less if Obama won. I am just saying that the increase could hurt allot of companies, Whichever lying jackass won didn't matter to me.

[jack who]

you just dumb or did your mom drop you on your head when you was lil?

[N4M3L355]

It sucks that people are losing their jobs, but this store has the worst customer service. Yeah, they have some decent deals, but their horrible customer service and lack of product knowledge has been inexcusable.

[FantasyStar]

I'd contest that Best Buy had FAR worse Customer Service and product knowledge. When looking for an HDTV, the only thing BB told me was "buy this! for X reason!" CONTRAST RATIO!!!11!11!11!. HDMI IS SUPER!!!!....durr.....durr.... .LCD!!

-At Circuit City, the first thing the CSA said was "well, what's your budget and where are you going to place your HDTV? We'll go from there." - CC IMOE has much better Customer Service.

[N4M3L355]

but I can also agree with you on Best Buy. That's why I try to stay educated and informed when I shop. I also do a lot more shopping on newegg and amazon.

[CBaoth]

how the hell did my post wind up here?

[Cocksmokingclerk]

I almost had a job there earlier this month. That sucks.

[DJ]

Sucks, 'cause now the nearest one is like 15 miles away. I have a gamer's club card that gets me 10% off all game purchases/accessories.

[JUSTICEFORALL]

can we see some great cut prices on some game deals? like say 39.99 for any newly released games?

[Reshun]

Now we watch as the domino effect kicks in breaking down the economy globally and to finally show some people who cared less to realize what the hell has been going on for the past few years.