Top Topics
-
San Antonio Spurs vs. Oklahoma City Thunder
1319 recent check-ins -
Sleep
467 recent check-ins -
NBA Playoffs
390 recent check-ins -
Coffee
248 recent check-ins -
GetGlue
196 recent check-ins
-
Your Review
Loading - Loading
9 people checked-in to Circuit City on GetGlue
Check-in to entertainment with GetGlue. Connect with friends, discover new favorites, and unlock FREE stickers and discounts.
Circuit City Stores, Inc. (Pink Sheets: CCTYQ) was an American retailer in brand-name consumer electronics, personal computers, entertainment software, and (until 2000) large appliances. The company opened its first store in 1949 and liquidated its final American retail stores in 2009 following a bankruptcy filing and subsequent failure to find a buyer.
As part of its bankruptcy, the company is selling its Canadian subsidiary, InterTAN (which operates as "The Source by Circuit City"), to Bell Canada. Circuit City now operates in the United States as an online-only retailer as a company of Systemax Inc. (NYSE: SYX).
On May 11, 2009, Systemax bought the brand, trademark and e-commerce business at an auction. Systemax had earlier acquired CompUSA and TigerDirect which now operate as online retailers. Systemax in April 2009 signed a stalking horse agreement for $6.5 million which is an initial offer for a bankrupt company's assets.
At the time of liquidation, Circuit City was the second largest U.S. electronics retailer, after Best Buy. There were 567 Circuit City Superstores nationwide, ranging in size from 15,000 to 45,000 square feet (1400 to 4000 m²), when the company announced total liquidation. An additional 155 stores were closed when the company filed for Chapter 11 bankruptcy in November 2008 with the intent of continuing operations.
However, attributing its ultimate demise to the lack of consumer spending and overall economic downturn during the late 2000s recession, Circuit City began liquidation of its remaining stores on January 16, 2009, and they were all closed on or before March 8, 2009. A small staff remains on hand at corporate headquarters to complete the company's business, including the termination of its many leases, and the sale of its company-owned real estate and Canadian subsidiary.
Similar to 0 things you like:
San Antonio Spurs vs. Oklahoma City Thunder
Sleep
NBA Playoffs
Coffee
GetGlue
Check-in to entertainment with GetGlue. Connect with friends, discover new favorites, and unlock FREE stickers and discounts.
You can edit this page because you have earned special privileges on Glue.
Only make changes if you are certain that they are correct.
Made in New York City | Copyright 2009-2012, AdaptiveBlue, Inc