Tag Archives: circuit city

After filing for bankruptcy last November, US retailer chain Circuit City is to close all of its 567 stores nationwide.

30,000 people are set to lose their jobs in the US whilst the Canadian wing is still hopeful of a takeover.

More here.

By Mike Bowden

PC retail is reporting that Circuit City has filed for Chapter 11 Bankruptcy Protection.

The firm’s assured that its doors will remain open throughout the Christmas period. This is largely due to “the assistance of a $1.1 billion debtor-in-possession revolving credit facility,” apparently.

Circuit City boss James Marcum said: “We recently have taken intensive measures to overcome our deteriorating liquidity position.”

More through the link. Thanks, MCV.

By Mike Bowden

US retailer Best Buy is to give away $50 credit notes to anyone who bought into HD-DVD, according to this, an initiative likely to cost up to $10 million. Anyone that can provide a receipt saying they bought a now defunct HD-DVD player from the firm will be eligible for the gift.

Circuit City is also saying it’ll look after those stiffed by Toshiba on the whole HD-DVD “thing”, and will accept returns of HD-DVD players up to 90 days after purchase. We bet the UK retailers are clammering to offer similar deals. Or not.

Major US retailer Circuit City is to start selling secondhand games, according to this.

The store chain is to trial the service in 10 outlets, with plans to expand to other shops if the test is a success. Which it almost certainly will be. The move by Circuit City is a second step to get into the games business, after recently launching a discount plan called the Gamer Savings Club, which has now attracted more than 25,000 members.

In case you’re wondering why this matters, or why American publishers are probably reading this news through the gaps in their fingers, take a look at this.