Items tagged with going out of business

It appears that Circuit City’s liquidation sales have been successful. So successful, in fact, that the stores are running out of inventory sooner than expected. As a result, liquidators have announced that all of the chain’s remaining stores will close this Sunday. The shutdowns come about a week ahead of schedule, and two weeks earlier than originally planned. Even after the stores close, there’s still a lot to be done, however. The company’s wind-down process is expected to last two years while crews liquidate remaining assets, shut down the final businesses, and reconcile claims against the... Read more...
After filing for bankruptcy protection in November, Circuit City was hopeful that it would be able to reorganize and reemerge. Now, only a day after the company held an auction that was suppose to be the retailer’s last chance to survive bankruptcy as an intact, though smaller chain, the company announced it has hired four liquidators to sell all remaining merchandise in 567 stores before going out of business for good. While some people will certainly be excited about the potential to pick up electronics, TVs, and computers at closeout prices, the news is certainly grim to all of the company’s... Read more...