Circuit City Electronics - where did all the stores go?
Circuit City Electronics stores have closed their retail locations across America. However, you may still find their online store by clicking here.
circuit city electronics was founded in 1949 and set the example for large appliance's and electronics in the 1970's.
Who bought the company name?
They liquidated all their stores in 2009 shortly after filing for bankruptcy and failing to find a buyer. Circuit city electronics is now owned by Systemax which bought out the retail name and has now made it an online only retail store. Systemax also owns CompUSA and TigerDirect which are now all online stores.
Why did this happen?
When the company first started liquidating stores there were 567 total stores. 155 of those stores closed almost immediately after the retail chain filled for chapter 11 bankruptcy in 2008. Lack of customer spending and the economic collapse in the mid 2000's they began liquidating the rest of their stores on Jan. 16, 2009 and finally closed the last remaining stores on March 8, of that same year.
For many people this came as a shock, we ourselves didn't find out this information until about a couple of months ago but were pleased when we found that we could still purchase from the circuit city electronics store online.
Some things that will be missed-
CC used to offer credit card directly from the store level. the credit cards were offered through First North American Bank created solely for the purpose of the CC credit cards.
Good news for Canada shoppers!
Although what was once owned by circuit city electronics, The Source, is still operating in canada. The stores are now owned by Bell Canada and are still open for business.
Controversy in the City-
In 2005 CC paid out 173,220 in a settlement due to false advertising. The courts found that important information about sale items were purposely misrepresented in turn deceiving customers.
During 2007, the California supreme court found that Circuit City Electronics arbitration agreement, that 46,00 employees were required to sign for employment, violated the states labor laws and that those employees could then in turn sue CC even after signing the agreement in the first place.
The good news is, now that CC is Circuit City Electronics in name only, none of the controversial events (mentioned above) that happened in the past are now apart of the past since Systemax has taken over ownership.
Again, you can find the online store by clicking here
Questions and Answers
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