Nov 10 2008
Another One Bites the Dust
Circuit City has filed for bankruptcy protection. This means that another large company has filed for bankruptcy. I have to say I am surprised but I am not shocked about this news. I mean there are so many competitors in the electronics industry. I mean Best Buy, Target, Walmart, Kmart, Sears etc. all sell electronics. The economy is very bad right now so many consumers do not have the money to be able to purchase large ticket items such as Plasmas, computers, home theatre systems etc. It is sad because many employees will probably be losing their jobs due to this news. It is hard to come back from bankruptcy, some stores have done it but with Circuit City I am not sure if they will be able to restructure themselves and be successful and profitable. It is horrible that the economy is this bad, especially so close to the holiday season. Hopefully, Circuity City can get back on the right financial track soon. What do you all think of this news about Circuit City?
My three years working at best buy let me in on this one early. Circuit City was already on the way out, this crisis just brought it to light. Between Best Buy, Target, and Wal-Mart there just isn’t enough room for Circuit City.