Circuit City will disappear from the retail landscape by Sunday night. All of the retailer’s remaining 500-plus stores will close by then, ending an era for a chain that began in a small downtown Richmond storefront in 1949 and later became the nation’s largest consumer-electronics chain…
A consortium of four liquidating companies has been conducting going-out-of-business sales since mid-January at Circuit City’s 567 U.S. stores. They were selling off the Henrico County-based chain’s remaining $1billion-plus worth of inventory at reduced prices. The group initially thought the stores would close by late March, but sales have gone better than expected, Circuit City spokesman Bill Cimino said.
About 70 stores already have closed, he said…
The demise of Circuit City will flood the commercial real estate market with about 22 million square feet of retail space at more than 600 locations nationwide.
They weren’t very sharp. They rarely paid for competent help. They relied on discount pricing to turn the inventory. But, then, there probably is a spot in the marketplace for stores just like that.
When folks can afford to buy stuff.