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Tag Archive: Circuit City

Microsoft to Launch Retail Stores

Microsoft to Launch Retail Stores

Microsoft has decided to take on Apple head-to-head in the retail business, announcing that it has hired former Wal-Mart executive David Porter to spearhead a new retail storefront effort. Porter comes to Microsoft from DreamWorks Animation, but before that spent 25 years at Wal-Mart, where he was eventually VP and general manager of entertainment—and helped Wal-Mart into one of the biggest music and movie retailers on the planet.

“There are tremendous opportunities ahead for Microsoft to create a world-class shopping experience for our customers,” Porter said. “I am excited about helping consumers make more informed decisions about their PC and software purchases, and we’ll share learnings from our stores with our existing retail and OEM partners that are critical to our success.”

Circuit City to Be Liquidated

It’s official: Circuit City is going under. The company announced today that it will be seeking bankruptcy court approval to liquidate the company’s assets, including its remaining inventory, retail locations, services, and its online operations like FireDog. The move will mark the end of some 567 retail locations in the the United States and over 760 retail stores and dealer outsets in Canada. The company employes over 30,000 people. The company says it will offer more details about the liquidation plans—which could spell hot deals for consumers—but doesn’t anticipate the liquidation will generate any value for its investors.

Circuit City Declares Bankruptcy

Circuit City Declares Bankruptcy

Just a week after announcing it would be closing 155 stores before the holiday buying season gets fully underway, Circuit City has announced it has 3 in order to keep its remaining locations open for business. Circuit City was forced to make the move after vendors expressed serious doubts the company would be able to pay for products it planned to move into its stores; filing for Chapter 11 bankruptcy protection assured vendors they will get paid for merchandise Circuit City puts into its stores; the company also plans to undergo a significant restructuring in order to return to profitability, and says it has secured $1.1 billion in debtor-in-possession financing.

Circuit City to Shutter 155 Stores

Circuit City to Shutter 155 Stores

Electronics retailer Circuit City has announced plans to close 155 store locations and lay off approximately 17 percent of its workforce, in what might be a last-ditch effort to restructure its business. The official list of store closures (PDF) is available now; the company plans to conduct the shutdowns before the holiday buying season begins in earnest so it can transfer inventory and personnel to better-performing locations and make the best of its efforts.

Circuit City Facing Tough Times

Circuit City Facing Tough Times

The Wall Street Journal reports that electronics retailer Circuit City is facing a very tough decision: either close 150 stores, or file for bankruptcy protection.

A decision to declare bankruptcy could have a major negative effect on the company, potentially eroding consumer confidence in the retailer and raising doubts about whether the company would be around to honor warranties and other deals. While closing a large number of stores could raise many of the same issues for consumers on a local level, it could also produce a short-term holiday windfall both for the company and consumers, since the company could use the move to generate an estimated $350 million in revenue through job cuts, reduced real estate costs…and liquidating inventory.

HP BlackBird 002 Headed to Retail Stores

For those who haven’t had a chance to ogle HP’s high-profile BlackBird setups at tradeshows and other promotional events, the company’s slick gaming machines have largely remained catalog eye candy to lust over on the net. But not for long. HP will soon put the machine’s crowd-drawing capabilities to work in storefronts when it begins selling the BlackBird 002 at brick and mortar shops this summer.

Blockbuster Offers to Buy Circuit City

Blockbuster Offers to Buy Circuit City

Struggling video rental company Blockbuster has disclosed that it made an unsolicited offer to buy struggling technology retailer Circuit City back in February, offering to pay $6 to $8 per share in a transaction worth up to $1.3 billion. According to Blockbuster chief james Keyes, the combined companies could create a retail powerhouse built on personal electronics and digital media, but Circuit City has failed to perform “due diligence” to enable Blockbuster to make a more definitive offer. Circuit City, however, says Blockbuster has been unable to assure Circuit City it could even finance the buy-out.

Circuit City Gives HD DVD Buyers a Break

Circuit City Gives HD DVD Buyers a Break

We’ve all hopped on the wrong bandwagon at some point, whether it was Pogs in fifth grade, Pets.com stock in 1999, or Betamax back in ’80s. Fortunately for some HD DVD buyers who found themselves in this situation after the recent death of the format, there might still be a way out. Circuit City enacted a policy on Thursday that it would extend its normal 30-day return policy to 90 days for HD DVD players.

Digital TV Converters Coming to Retailers

Digital TV Converters Coming to Retailers

Retailers are getting ready to begin offering the U.S. public digital television converter boxes so Americans can keep watching their beloved old-school analog televisions when analog television broadcasts are finally terminated on February 17, 2009. The National Telecommunications and Information Administration (NTIA) has announced that more than 100 consumer electronics retailers (including Wal-Mart, Best Buy, Circuit City, Kmart, Radio Shack, Sears, Target and Sam’s Club) have been certified to participate in the TV Converter Box Coupon Program. Although a few retailers are already offering converter boxes, most retailers will start on the digital TV converter bandwagon in February 2008, one year ahead of the analog TV shut-off.

Velocity Micro Coming to Circuit City

Electronics retailer Circuit City will begin offering desktop and notebook systems from independent computer maker Velocity Micro beginning July 22. Under the deal, Circuit City will be the exclusive retail source for Velocity Micro’s NoteBagic X20 and X25 notebook systems, featuring Intel Core 2 Duo processors and Nvidia GeForce 8M graphics controllers with DirectX 10 support.

“We’re very excited to join forces with Circuit City to offer PC users a new destination for high performance computers,” said Velocity Micro president and CEO Randy Copeland, in a release. “Velocity Micro strives to provide mainstream value with boutique sensibilities: meticulous hand-craftsmanship, enthusiast performance, and first-to-market launch technology. [Circuit City has] heard the demands for a new PC experience and we believe we are the perfect source to meet this need with our ultra performance, custom desktop and notebook offerings.”

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