Circuit City declares bankruptcy

Discussion in 'Economy' started by DavidS, Nov 10, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    NEW YORK (AP) -- Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday shopping season approaches.

    It filed under Chapter 11 of the bankruptcy code, which will allow it to hold off creditors and continue operations while it develops a reorganization plan.

    Link here.
     
  2. CSM
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    CSM Senior Member

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    Hell, they should have demanded a bailout!
     
  3. sithroya
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    sithroya BANNED

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    lol, i just applied for a job at CC
     
  4. xsited1
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    They better give me a good deal on a big-screen plasma TV or else!
     
  5. WillowTree
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    WillowTree Diamond Member

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    do they hafta still pay taxes if they have filed for bankruptcy? :eusa_angel:
     
  6. Navy1960
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    Navy1960 Senior Member

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    Now, I will only make a few comments on this one, Circuit City at least deserves my admiration for not going to the government to ask them to justify their mismanagement. Instead the company has taken the traditional route offered to those companies that are in such situations and thats through the Bankruptcy Courts. They have my complete support and fondest wishes for success in comming out of this as a better company. Other companies should stand up and take notice of this, GM, are you watching?
     
  7. CA95380
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    CA95380 USMB Member

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  8. Navy1960
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    Navy1960 Senior Member

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    Thus the reason why Circuit City is running to Bankruptcy court CA. I don't know if anyone recalls a compnay called CompUSA that recently went out of business, but when they closed their store on Bell Rd. here I got an Apple Laptop there for my daughter for about 400.00 dollars.
     
  9. xsited1
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    CompUSA did the same thing and I believe the Circuit City liquidation is going to be held by the same people. Translation = No good deals.
     
  10. DavidS
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    DavidS Anti-Tea Party Member

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    How are you comparing Circuit City to GM?? The government could give two shits about some dinky electronics store. GM is responsible for 10% of the American workforce. Circuit City goes under, you have Best Buy and a whole slew of other electronics stores selling what Circuit City sells. No one else sells GM cars except GM cars.
     

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