Circuit City Stores Closing Permanently on March 8

Record Shopper Turnouts Result in Early Closure for Chain

Liquidators managing the going-out-of-business sales at Circuit City stores nationwide announced today that all stores will close permanently on Sunday, March 8, adding that some have already closed their doors due to depleted merchandise.

Going-out-of-business sales at all of the giant electronics retailer’s 567 stores nationwide began Jan. 17 and were initially expected to last up to eight weeks. The sales have continued daily since then in order to liquidate Circuit City’s $1.7 billion in retail inventory.

“Thanks to record shopper turnout at many of the store locations and the attractive discounts offered on all merchandise, the sales actually went quicker than we expected,” noted Scott Carpenter, executive vice president, director of operations, for Great American Group, which has been overseeing all the sales activity as part of a joint venture group.

The other three companies partnering with Great American Group to handle the liquidation are SB Capital Group, LLC, Tiger Capital Group, LLC, and Hudson Capital Partners.

When the final Circuit City store closes at the end of business on Sunday, it will mark the demise of a company whose name was universally known and which grew to become the second-largest consumer electronics retail chain in the U.S. Other major retailers that have closed in recent months include Mervyns, Steve & Barry’s, KB Toys, Shoe Pavilion, and Linens ‘N Things.

Contacts

The Phelps Group
Bill Krenn, 310-752-4400
bkrenn {at} thephelpsgroup(.)com