It’s not a final good bye, at least not yet, but with the news that Circuit City is shuttering 155 stores it’s a giant leap closer. Gizmodo got the hit list and it appears entire regions, no states, are being exited.
Sure, Circuit City has been floundering for a long time. CEO Phil Schoonover was recently forced out but this is caused less by new management than a tightening of the credit markets. Suppliers have been supporting Circuit City in the hopes it can pull itself together and remain competitive. No one wants Best Buy to be the only CE specialist, it gives them way too much power in the marketplace.
It’s not a good thing for shoppers either. For those giddy at the prospect of liquidation sales, the best stuff will be shifted to other locations and there’s not much inventory anyway, thanks to the credit issue. And it’s going to be worse. The store closing may keep Circuit City open through the holiday’s. After that, it’s anybody’s guess.