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Old 11-03-2008   #1
rex
Super Member
 
Join Date: Feb 2008
Location: U.S.
Posts: 379
Default Circuit City, Tweeters, Economic Crisis

CE retailers were already feeling pain well before the current economic crisis dramatically escalated. "Liquidation specialists" are now in control of both Circuit City and Tweeters. Circuit City is closing 155 stores and withdrawing from 55 markets nationwide. For a list of store closures see: http://files.shareholder.com/downloa...ing%20List.pdf
Tweeters is shutting down its distribution centers (shipping all inventory to stores) and its corporate offices. This will most likely be followed by store closures as well. http://www.twice.com/article/CA66103...?desc=topstory
Online retailers with less overhead, like Amazon, seem to be faring better.
On the bright side, decreased consumer demand and a slightly stronger dollar will mean better bargains in the short term.
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