You didn’t know this about Circuit City Bankruptcy

A filing from Circuit City would make it the largest retailer to enter bankruptcy protection in several years, the paper reported. My husband is a manager for Circuit City and I can assure you that they are not filing for bankruptcy. Circuit City has not filed for bankruptcy. I’ve done some research online and want to say that it is not official that Circuit City is filing for bankruptcy.

Two analysts said Circuit City may file for bankruptcy, according to two Wednesday stories by Reuters and Bloomberg. It’s unknown what type of bankruptcy Circuit City, the nation”s second largest electronics retailer, may file. Last week, Deutsche Bank’s Michael Baker said in a note to clients that without a strong holiday season, Circuit City “significantly increases bankruptcy risk.”

I work in a Circuit City in Colorado that is very profitable and customer friendly. Unfortunately some Circuit Cities have people working in them where the employees come out of the community they live in and the community of people are not much better-some people are hard to serve.

Best Buy would be a direct beneficiary of a Circuit City bankruptcy, Bradley added, which would outweigh the impact of falling TV prices and cutbacks in consumer spending. Cleveland, Ohio - A research analyst at KeyBanc Capital Markets, here, expects Circuit City to enter Chapter 11 bankruptcy protection as early as the first quarter of 200 “We believe a Circuit City bankruptcy has become a question of ‘when’ rather than ‘if,’” Bradley Thomas observed in a research note.

Since the end of May, Circuit City’s stock has lost about 87% of its value; the company has fired its CEO, lost a $3 billion takeover offer from Blockbuster, and posted quarterly losses of $232 million. Now the Washington Post says that the company lost a recommendation from a firm that advises manufacturers on whether to ship goods to retailers - meaning that Circuit City may be having trouble paying its vendors.

If I am not mistaken, Circuit City did NOT turn down an offer from Blockbuster. Blockbuster withdrew their offer once they saw Circuit City’s earning statements. All I know is that when I was working for Circuit City as a regular employee I’d always be asked if they were closing.

Infact, I just read that Bank of America, JPMorgan Chase, Wells Fargo, and Wachovia have just given Circuit City a borrowing power of $3 billion also giving $350 million on standby.

As of Aug. By shutting the stores, 59-year-old Circuit City could liquidate about $350 million in inventory, which it could use to pay off certain real-estate costs and pressure existing landlords to renegotiate some leases, the paper added.

Good riddance, Circuit City. If the Circuit City near me, in St.

Judging by my own personal experiences however, many Circuit City employees will find it hard to measure up to the good employees at more succesful businesses. If I were a Best Buy manager, I would be leery of a Circuit City employee just from all the bad habits they will have to break. 3 Circuit City fired 3,400 employees in stores across the country yesterday, saying they were making too much money and would be replaced by new hires willing to work for less. I kept telling him no but he kept insisting when finally I had to politely say to no I will not by a Circuit City back warranty because I don’t believe Circuit City will be in business in a few months. Ive been with Circuit City for 8 months, I actually quit Best Buy for a position at Circuit City. I used to work for Circuit City, went through the huge layoff and even a few lawsuits.

Circuit City was trading at 41 cents a share at press time on Monday afternoon.

Judging by the customer service and store tidyness, or lack thereof, that I encountered on my last two visits to an OC Circuity City, I say good riddance.

I think its ignorant to say that these people need to go out of bussiness.

Linens ‘n Things, Mervyn’s and Barbeques Galore USA filed for Chapter 11 bankruptcy protection.