Circuit City

[Zayre88]

Circuit City name may live on with Web site
Liquidator Hilco Trading makes bid to buy moniker

By Sandra M. Jones | Tribune reporter
February 13, 2009

Circuit City stores are going out of business, but that doesn't mean its name is going away.

Hilco Trading LLC, a Northbrook-based liquidator that took part in closing some Circuit City stores last year, is in negotiations to purchase the electronics retailer's name and operate a Web site under the moniker CircuitCity.com, according to people familiar with the deal.

An agreement to make Hilco the preferred biddercould be reached as early as Friday, according to one person with knowledge of the talks. A bankruptcy court would have to approve the sale.

Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, filed for bankruptcy protection from creditors in November with the intent of reorganizing. It failed to find a buyer and began to liquidate its 567 U.S. stores last month.

http://www.chicagotribune.com/business/chi-fri-notebook-circuit-city-02feb13,0,1054611.story

[videogamer75]

That's awesome!

[Mervyns]

Originally posted by Zayre88

Circuit City name may live on with Web site
Liquidator Hilco Trading makes bid to buy moniker

By Sandra M. Jones | Tribune reporter
February 13, 2009

Circuit City stores are going out of business, but that doesn't mean its name is going away.

Hilco Trading LLC, a Northbrook-based liquidator that took part in closing some Circuit City stores last year, is in negotiations to purchase the electronics retailer's name and operate a Web site under the moniker CircuitCity.com, according to people familiar with the deal.

An agreement to make Hilco the preferred biddercould be reached as early as Friday, according to one person with knowledge of the talks. A bankruptcy court would have to approve the sale.

Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, filed for bankruptcy protection from creditors in November with the intent of reorganizing. It failed to find a buyer and began to liquidate its 567 U.S. stores last month.

http://www.chicagotribune.com/business/chi-fri-notebook-circuit-city-02feb13,0,1054611.story

Linens 'N Things is doing this for sure, Service Merchandise has just reopened their website after it closed, and Hechinger has closed theirs.

[Caldor1999]

heres some i took today at the one in white plains it opend in 2003

[Caldor1999]

some more

[Caldor1999]

inside this store was pretty small

[wwefan101]

the one in millbury ma still has  some stuff left  they got  got evey one going in to the store now tough one door   hers the pic i manged to get after  4 trys this is the best i   got of it
<a href="http://s199.photobucket.com/albums/aa150/websterma101/stores/?action=view&current=storecloseinginmillburyma.jpg" target="_blank"><img src="http://i199.photobucket.com/albums/aa150/websterma101/stores/storecloseinginmillburyma.jpg" border="0" alt="Photobucket"></a>

[retailfan]

Well Id sy CCity will be gone by March 1st
Greenwood is down to nothing
only 3 isles of dvds  and verizon has gone
it pretty bare  to say the least
my guess is they will drop to 50% by thursday  which should just about do them in
The one thing i will say is the associates in store 3192 Greenwood have been great still trying to help people out even though there losing there jobs
I wish them luck and say Thank you

[wwefan101]

o yea u cant even tell the millbury one had a verzion and we baught a cd at the millbury one  the chasier had noooooo cule what she was doing she had to ask  for help from  the other chasiers and they had a row of games and dvds left and some pc stuff and  like 20 tvs left and candy lol

[retailfan]

yea if there like Greenwood the candy is hidden at the front kind of forgoten  i bought a buch and stashed it in my freezer  not that  i need it lol but couldnt pass up the bargin
i might visit again in a few days  if i have the time  but  really not much left that i need  maybe standard dvd movies Blu Ray only had  a few titles left
 was hping they would have a stah of HD DVD  left  but they never brought them out

[wwefan101]

i was going to grab some coke  but i didntk now ift ther soda was on sale or could get nare it

[retailfan]

Greenwood Didnt have any pop left It was gone the second day the cooler company took the cooler away and they threw out the pop

[wwefan101]

lol soda half off whould have been cool i hope somthinh good replaces the millbury one ma  a nice big buffet

[retailfan]

http://www.twice.com/article/CA6637604.html?q=circuit+city


Circuit City To Begin Auctioning Stores And Brand
By Alan Wolf -- TWICE, 2/13/2009 2:24:00 PM
Update! Richmond, Va. — A federal bankruptcy court here approved Circuit City's request to sell or break its leases on nearly 600 properties, including stores, distribution centers and corporate offices.


Auctions, to be handled by Gordon Brothers' DJM Realty division, could begin as soon as Feb. 26 on stores slated to close by the end of the month, the Richmond Times-Dispatch reported.


Gordon Brothers, in a joint venture with Hilco Trading, will also bid on Circuit City's brand name and the domain name CircuitCity.com. The partners will make a stalking horse bid on the intellectual properties, after which other bidders will have an opportunity to top the offer in an open auction, Crain's Business reported.


Gordon and Hilco conducted the first round of Circuit City liquidation sales at 154 stores last fall, and were members of the consortium that acquired The Sharper Image in a bankruptcy auction earlier last year.


The latest store closures will begin a month ahead of the liquidation's planned March 31 cut-off,  as the fire sales are proceeding "much faster and better than originally thought," Circuit City lawyer Gregg Galardi told the court, AP reported. The remainder of the stores and properties will be auctioned off on March 10.


Circuit City was unable to find any takers for the leases to the original 154 liquidated stores. It attributed the failed auction, held after its bankruptcy filing in November, to the weak economy.


The court also granted Circuit City permission to sell defective or damaged merchandise via online auctions or through a third party, and to sell its two corporate jets: a 2001 Learjet 45 for $4.4 million and a 1996 Hawker 800XP for $4.5 million, according to the reports.

[retailfan]

http://www.twice.com/article/CA6638985.html?nid=4358&source=title&rid=5611474


Circuit City Store Closings Underway
By Alan Wolf -- TWICE, 2/20/2009 2:01:00 PM
UPDATE! Richmond, Va. — Circuit City's liquidators have begun shutting down the chain's 567 remaining stores.

The first round of closings will conclude by March 1, and a federal bankruptcy court here has scheduled an auction for the stores' leases on Feb. 26.

Leases to the remaining stores will be auctioned off on March 10, court do[Censored]ents show, with the winning bidders to be determined on March 3 and March 13, respectively.

The closings are starting about a month ahead of schedule due to the unexpected pace of the fire sales, and should conclude within the next three to four weeks, the liquidators said. About $1 billion in inventory has been sold since the sales began Jan. 17, including 272,700 flat panel TVs; 53,800 home theater systems; 266,600 digital cameras; 79,100 notebook PCs; 38,700 desktop PCs; 143,900 printers; 62,300 camcorders; 92,700 GPS devices; 88,100 car audio speakers; and over 6 million DVDs and CDs.

All of Circuit City's distribution centers are now empty, and the remaining $700 million worth of merchandise has since been moved to the stores.

"Due to the record shopper turnout we've had over the past month, we're ahead of schedule in closing many of the store locations," noted Scott Carpenter, executive VP and operations director for Great American Group, which has been overseeing the going-out-of-business sales for the joint venture that also includes SB Capital Group, Tiger Capital Group and Hudson Capital Partners.

The consortium described the liquidation as among the largest in U.S. retail history.

This week the bankruptcy court also approved Circuit City's request to hire Liquid Asset Partners, a Grand Rapids, Mich.-based liquidator, to sell off all its furniture, fixtures and equipment from seven distribution centers, four service centers, two corporate offices and one call center.

In other Circuit City news, the company reported losses of nearly $21 million in December on sales of just over $1 billion.

According to a filing with the United States Securities and Exchange Commission, the $21 million loss included an $8 million impairment charge related to long-lived assets at the company's stores.

Circuit City's assets totaled $3.1 billion as of Dec. 31, the filing showed, and total liabilities were $863 million.

The chain's billion-dollar December followed a bankruptcy filing in November and the closure of 55 stores before Christmas. Results were also impacted by the crises in the financial markets, which stifled holiday sales for all retailers.

[wwefan101]

 a pic off the fire dog trucks from the millbury one
<a href="http://s199.photobucket.com/albums/aa150/websterma101/?action=view&current=012-4.jpg" target="_blank"><img src="http://i199.photobucket.com/albums/aa150/websterma101/012-4.jpg" border="0" alt="fire dog"></a>

[retailfan]

10 Days Left
Thats the sign up at C City today
Verizon was tearing down there display  most of the back of the store is empty  very sad
amazing some of the old junk  theyve found  and are selling
Well trying to sell a few loose cds in a bag  broken  digital frames  etc
 Got a few dvds at 60 percent off
They will be missed

 

[patk]

OMG 2 WEEKS :hurt:

[wwefan101]

  i  cant waite tosee wat replaces them

[Mervyns]

I saw a CC closing ad yesterday. It said "final days". Arent they closing at the end of March?

[EddieJ1984]

Originally posted by Mervyns
I saw a CC closing ad yesterday. It said "final days". Arent they closing at the end of March?

That was their plan, but apparently are closing earlier than expected since so many people shopped and bought most of the stuff left on clearance, the 2 circuit citys near me, only have a little part of the store open now, with most of the back area's roped off.

[TRJ22487]

Originally posted by EddieJ1984

Originally posted by Mervyns
I saw a CC closing ad yesterday. It said "final days". Arent they closing at the end of March?

That was their plan, but apparently are closing earlier than expected since so many people shopped and bought most of the stuff left on clearance, the 2 circuit citys near me, only have a little part of the store open now, with most of the back area's roped off.

I need to hurry up and get a picture of my store before it is gone!
The Jo Ann Fabrics in my town was original since 1984 and JUST LAST WEEK they remodled the front and replaced the signs. I never took a picture, I felt like an idiot. Same with Brooks Pharmacy when that happened.

So I should hurry up and take a picture

[wwefan101]

lol i had pics o brooks i got one of the one in town printed out but  i did mange toget the pic of the millbury cc as u can see in an earlery post

[retailfan]

Yes Most if not all Circuit Cities will be shut down in 9 days  A few closed yesterday although im not sure which ones and i dont think its listed anywhere
Better hurry  my C City has  about 12 tvs left 2 stereos  maybe 50 dvds and cds and lots of car instalation junk
Im planning one more trip next week

[Mervyns]

My local CC is outdated and uses ancient looking computers around the store.

[videogamer75]

I need to get more pictures at my local CC's.....man, only nine days left:(

[retailfan]

Make that 5 days left
Just made what will probably be my final trip to Circuit City
up to 80 percent off
not much left
they have striped all the signs off the inside and most of them are thrown in a pile for the trash I asked for a cicity sign but they told me no :(
did get some firedog gum  in a neat tin
a dvd and a few other things
they did have about 8 tvs left and lots of laptops  but only 20 percent off the laptops
my guess is they shipped some stuff away
it was eery today as no music was playing on the sirrius and its now up for sale

[GothicPrincess]

heading up to circuit city in Monroeville, PA tomorrow for a jaunt with one of my friends, thank God he's driving and not me, I don't know my way around lol but I'm going to get as many pics as I can from there and for other forums on here.

[EddieJ1984]

Went to the Whiteman Square Circuit City up here in NE Philly, 5 days left as well for it, heres some pics I took (from my cell phone) not much left, all I got was I Am Legend on dvd for $4.50

[C. Fontaine]

Circuit City in Holyoke, MA.