Circuit City, Tweeters, Economic Crisis

[rex]

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.

[deacongreg]

I will always been sensitive to this stuff, because I went thru some store closings myself. Crazy Eddie, Newmark and Lewis, and Tops Appliance City. Its not much fun.

[rlpiii]

Tweeters died out here about a year or so ago which was shame since they had some good stuff and were always willing to work with you on price. I bought lots of extra cables, a/v accessories, and other a/v items from them during their fire sale before they closed all their stores in DFW. CC has been flailing around for a while hoping someone would just buy them and put them out of their misery. I would not be surprised if they folded up shop completely too. BB usually has better stuff, nicer stores, and easier to find locations anyway.

[faberryman]

The last couple of times I have been in Circuit City no one was there - customers or sales people.

[wes]

Originally Posted by faberryman

The last couple of times I have been in Circuit City no one was there - customers or sales people.

Let's not confuse poorly run companies with economic crisis, Circuit City should have died before Good Guys and Tweeter. I feel bad for the employees, but Customer service and sales at Circuit City are horrendous.

Long Live Amazon.com they have outstanding customer service and great prices.

[crsecon]

Circuit City discharged all experienced non-management employees, those making a whole $10.25 per hour or so, in 2007. The CEO pocketed all the "savings" himself. What do you expect? Shopping Best Buy instead.