Circuit City Closing OKC Stores

[animeGhost]

Liquidation Sales are not the good deals people think they are. Especially when Circuit City's credit is not so good at any of their stores. Anything they don't sell here can be trucked to a store that isn't closing to beef up their sales floor, which from what I understand, is running pretty thin these days.

I work at the memorial and penn store they WILL NOT ship any inventory from the closing stores to the open ones... as far as circuit city is concerned those stores are now property of the liquidation company... and on the plasma vs. lcd... plasma is a superior technology but samsung does not make the best plasma panasonic does and generally they cost less than the sammies do if u dont believe me (understandable cause this sounds like a ccity ad lol) do your research check cnet and avs forums (dont believe a word consumer reports says, they either dont have a clue what they're talking about or someone is paying them big bucks to rate their product high)

[sgray]

anime,

That's what the mgr at the nw expwy store told me...that they were going to sell rather than xfr.

Just out of curiosity, are they doing anything at all to help those that are suddenly out of work? Just wondering if they were moving any of them to other stores or doing anything halfway moral to help them out.

On the video monitors, I can vouch for that. I engineer on the professional A/V side of things and samsung might as well be 'great value' or 'always save' brand... Panasonic has held on good. Ten years ago and prior, they were one of the studio standard names...you can't go wrong with most panasonic gear. Pioneer monitors are expensive (and really hi-q), but we use them in the installs that can afford it. For most cheap or bid installs, you see a lot of NEC.

What I hate are these cheap parent companies buying out old household names from 50 years ago, like Westinghouse, etc...and putting that logo on the cheap imported unit, you know?

[oneforone]

I visited the NW Expressway store. The manager on duty today told me the store belongs to the liquidation company. Circuit City corporate is now out of the picture.

Some of the remaining Circuit City employees at the store have been offered positions at other stores but at a lower rate. Most of the people I have talked to have chosen to find other employment. The positions they have been offered pay less than what they are making now.

On a side note most liquidation companies sell the items at a discount from full retail price. Due to competion from stores like Wal-Mart most CE stores sell their merchandise below retail price. In the end whatever the liquidation company does not sell gets sold to companies like Wall's and Hudson's. The fixtures and everything else will be auctioned off on site.

Hudsons Salvage, LLC

Walls Bargain Center

[animeGhost]

like oneforone said i believe some of the employees were offered jobs at the other locations but there are plenty of opportunities else where for them. i kno a lot of times other companies like best buy, ultimate electronics and conn's will recruit employees from closing stores to try and beef up their experienced sales ppl. @ sgray. i do agree i have grown tired of seeing old american brands bought up by korean and japanese companies just to get their low end product re-badged

[bigjkt405]

So this may be a stupid question.... but do the "closed" Circuit City stores still accept Circuit City CC??

[BB37]

Here's the next chapter in this story: Circuit City stores filed for Chapter 11 bankruptcy protection today, citing "100,000 creditors as of August 31, and had $2.32 billion in debt and $3.4 billion in assets. The company owes Samsung Electronics a total of $116 million, Sony $60 million and Hewlett-Packard (HPQ: 34.17, -0.47, -1.35%) $119 million, according to The Wall Street Journal."

Circuit City Files For Bankruptcy Protection - FOXBusiness.com

[Midtowner]

So this may be a stupid question.... but do the "closed" Circuit City stores still accept Circuit City CC??

I really doubt it. The closed stores are now lock, stock, and barrel the sole property of the liquidation company. I doubt that company has, in this short time, managed to set up the necessary relationship with whatever bank was behind the CC credit card, and besides that, they probably wouldn't want to because some of the benefit (financial) of selling that credit card probably accrues to CC.

Feel free to check, but I really, really doubt it.

[animeGhost]

i'm not 100% sure on the credit but from what i kno i believe they will be since their credit is done through chase bank and those cards are supposed to be accepted everywhere visa is.

[oneforone]

I am willing to bet the remaining Oklahoma stores will close after the Christmas season. I think CC will probably be East Coast company if they are able to pull out of bankruptcy.

Then again I think you are seeing the begining of the end of CC. I just read online that LG and Samsung are thinking about pulling their merchandise out CC. If that happens, its over for CC.

[animeGhost]

i doubt they will be closing the remaining stores in this area. not only are they very profitable stores but there is a major distribution center located in ardmore. CC will probably try and remain viable as a national retailer. Remember this isn't the first time a major electronics retailer filed chapter 11, best buy did it in the 90's and ultimate has done it several times.

[OKC4me]

So, does the penn/memorial store have any good prices on xbox 360 games and stuff?

[jackirons]

Every time I went to the Circuit City on Northwest Expressway, there were less than 10 customers in the store. I like going there though because they normally have good deals and I was able to get a really good price on a laptop.

[oneforone]

If this happens you can guarantee other manufactures will follow.

Samsung Electronics America Dec. 2 said it is demanding that bankrupt Circuit City Stores return nearly $74 million worth of consumer electronics hardware, according to a U.S. bankruptcy court filing.

The Richfield Park, N.J.-based CE manufacturer, with Blu-ray players that were among Richmond, Va.-based Circuit City’s deeply discounted products over the Black Friday weekend, said last month it twice requested the return of shipments from Sept. 21 through Nov. 4.

Circuit City filed for Chapter 11 bankruptcy protection Nov. 10.

“Samsung now has reason to believe that Circuit City Stores was insolvent at the time it received the goods,” said the manufacturer in the filing.

A Circuit City representative was not immediately available for comment.

I think its time to plan the funeral for Circuit City.

[yukong]

Well, just saw a story online that Circuit City was unable to find a buyer, or refinance, and thus they are closing down all stores and liquidating merchandise. Sad.

Also, in the same story, Kaybee Toys and Goodys clothing are gone.

Circuit City to liquidate remaining US stores

[bombermwc]

Yup, all of CC is liquidating. No stores are staying open. Then whole enterprise is gone folks.

[OKCisOK4me]

Well, I guess I don't need to buy an extended 3 year warranty from them again for my hdtv.

[danielf1935]

Extended warranties are a waste of your hard earned money. If you have any doubt of the product lasting longer than the factory warranty, maybe you should look at a different brand.

[SoonerDave]

CC has been in dire straits for some time - the economic situation merely accelerated their downturn, I believe. They made some *really* strange moves over the years, from what I've read and seen. I personally have not been a big fan of CC since they entered the OKC market.

As a consequence of CC shuttering their stores, there are over 150 of them already have bankruptcy permission to break their leases while eliminating 34.000 jobs nationwide.

Fire sale starts Saturday, apparently. Website will cease on Jan 18th.

Ugly, ugly stuff.

[oneforone]

As I stated in an earlier post. Circuit City did not die because of the economy. Poor management and bad businesses decisions led to its demise.

I worked for the company for eight years. The people at corporate never listened to the people on the ground at the stores. We wanted to start a home install service years before Best Buy's Geek squad. We were told it would be a waste of money and nobody would use that kind of service.

We requested the OKC stores be moved to better locations. We were told the OKC market was too small. Yet a year later Best Buy relocates one store and eventually opens five more bring their total OKC store count to seven. My prediction is that Best Buy will open at least 3-5 more Oklahoma stores by the end of 2010.

The good news is that most of people that I knew back when I left the company in April of 08 were just like me. They seen the writing on the wall and found new jobs before the bankruptcy happend.

[MikeOKC]

As I stated in an earlier post. Circuit City did not die because of the economy. Poor management and bad businesses decisions led to its demise.

I worked for the company for eight years. The people at corporate never listened to the people on the ground at the stores. We wanted to start a home install service years before Best Buy's Geek squad. We were told it would be a waste of money and nobody would use that kind of service.

We requested the OKC stores be moved to better locations. We were told the OKC market was too small. Yet a year later Best Buy relocates one store and eventually opens five more bring their total OKC store count to seven. My prediction is that Best Buy will open at least 3-5 more Oklahoma stores by the end of 2010.

The good news is that most of people that I knew back when I left the company in April of 08 were just like me. They seen the writing on the wall and found new jobs before the bankruptcy happend.

Service was always poor at Circuit City. As noted in this thread there were always people just standing around. At Best Buy you see employees helping people. I'm always asked at BB, several times, if I can be helped or am finding everything I need. The stores are bright and easy to find things. With Circuit City, I think bad service, poor lighting and drab maroon and gray atmosphere. Sometimes it's the little things and then sometimes it's the little things one on top of the other. Circuit City had too many little things wrong. Best Buy seems to be doing a lot of those little things right. How is Conn's doing in OKC? Seems they ended up with a lousy time to enter a new market.

[SoonerDave]

. How is Conn's doing in OKC? Seems they ended up with a lousy time to enter a new market.

I was YAWNINGLY unimpressed with Conn's. It looked like a warehouse they just threw some TV's and sofas in for good measure....doubt seriously I'll be back unless they have some really vicious sale on something specific, but I'm not holding my breath.

[oneforone]

Service was always poor at Circuit City. As noted in this thread there were always people just standing around. At Best Buy you see employees helping people. I'm always asked at BB, several times, if I can be helped or am finding everything I need. The stores are bright and easy to find things. With Circuit City, I think bad service, poor lighting and drab maroon and gray atmosphere. Sometimes it's the little things and then sometimes it's the little things one on top of the other. Circuit City had too many little things wrong. Best Buy seems to be doing a lot of those little things right. How is Conn's doing in OKC? Seems they ended up with a lousy time to enter a new market.

I cannot speak for all stores but my stores biggest problem was staffing. Corporate expected us to run a store with only 1-2 people per department on any given day. To me Best Buy has more of a Wal-Mart feel to it. Piles and piles of stuff priced cheap to move it fast. Until Apr of 2007 Circuit City had the most knowledgeable sales staff in the industry.

The atmosphere is up the eye of the beholder. In some of the BB stores I shop it feels you see more teenagers playing grab ass then anything else. I know of many people who avoid Best Buy because it is too loud and the employees seem to be lacking when it comes to product knowledge. When I purchased my router it took three Best Buy sales people to answer my question.

Overall, I just want everyone to know the economy is not to blame. CC has been doomed since 2000 when they dumped major appliances.

[MikeOKC]

I cannot speak for all stores but my stores biggest problem was staffing. Corporate expected us to run a store with only 1-2 people per department on any given day. To me Best Buy has more of a Wal-Mart feel to it. Pile and piles of stuff priced cheap to move it fast. Until Apr of 2007 Circuit City had the most knowledgeable sales staff in the industry.

The atmosphere is up the eye of the beholder. In some of the BB stores I shop it feels you see more teenagers playing grab ass then anything else. I know of many people who avoid Best Buy because it is too loud and the employees seem to be lacking when it comes to product knowledge. When I purchased my router it took three Best Buy sales people to answer my question.

Overall, I just want everyone to know the economy is not to blame. CC has been doomed since 2000 when they dumped major appliances.

They also tried to balance their books by getting rid of their trained people who were better paid and hiring people that knew nothing. Is that not right? Were you one of those that got the axe for actually knowing what you were talking about?

[oneforone]

They also tried to balance their books by getting rid of their trained people who were better paid and hiring people that knew nothing. Is that not right? Were you one of those that got the axe for actually knowing what you were talking about?

Yes, that was the goal. They told us that the cuts had to happen in order to keep the company out of serious debt.

In reality they should have just cracked down on the sales staff not meeting their sales goals.

I was supposed to be cut. I was making 11.50 an hour the cut was $10. Lucky for me I moved to home delivery a week before the axe fell. In Nov 07 rumors began circulating that more cuts were scheduled and delivery services were likely to be on the chopping block.

I left the company full time only working one or two days a week. Last april I got tired of playing the retail game and left for good.

[Generals64]

Yeah, I was over there when the line-o-lux entered the store at 10am and man it got quiet when everyone started looking at what they had done. I figured the 'deals' wouldn't be too good at first, but come one! The regular $5-6 'deal movies' were marked back up to their regular 'list price' of $9.99 to $14.99 and you can take 20% off that... YEAH RIGHT... forget that!

There were some people buying into it though...

---------------------------------------------------------------------------
The liquidation company is supposed to arrive mid-week next week...