Please Shop at Circuit City -- they owe me $86,000

Every little bit helps!

Ouch. I guess the chap. 11 will keep them from paying you even with the liquidation... I'll be taking advantage of the sales if I can...

I would but they've already gutted the one near me in Chandler, AZ...

Hope you get some blood out of the stone.

They gutted mine here in Foothill Ranch, CA a couple of weeks before Christmas but I have at least 3 others pretty close. Maybe that's part of their downfall, too many like Starbucks.

ryant35 wrote in post #7094555
They gutted mine here in Foothill Ranch, CA a couple of weeks before Christmas but I have at least 3 others pretty close. Maybe that's part of their downfall, too many like Starbucks.

I hear they're going to put a Starbucks inside Starbucks...

Last week, I would have guessed that I would get about 30% of what they owed me. We the new liquidation plan, though, the employees are getting a sweet deal (not like the shafting the tweeter employees got.) 2 month packages for everyone is pretty generous. I guess now I will see about $8 grand. In about 6 months.

Are you a distributer for them?

mattograph wrote in post #7094654
Last week, I would have guessed that I would get about 30% of what they owed me. We the new liquidation plan, though, the employees are getting a sweet deal (not like the shafting the tweeter employees got.) 2 month packages for everyone is pretty generous. I guess now I will see about $8 grand. In about 6 months.

I'm slightly confused about what is going on too? You have shares in them possibly?

Michael wrote in post #7095576
I'm slightly confused about what is going on too? You have shares in them possibly?

Me too, very very confused???

They are/were my customer. In the real world, I am director of sales for a consumer electronics company. I sold them a $500,000 worth of product last spring, of which they had paid for all but $86,000 prior to bankruptcy.

Technically, they owe my boss, who owns the company. But I take these things personally....... Still, I won't lose my job over it, just a couple grand. I feel more sorry for the 29,800 people at CC who will lose THEIR jobs and did nothing but work hard.

I figure about 200 people there screwed the pooch for the rest, with their HORRIBLE decision making -- I don't feel a bit sorry for them.

The MSN story said 34,500 people will be layed off. That's terrible.

Yeah, they never had a chance. I hate the term "perfect storm" since its beat to death so badly, but the really did run into a no win situation.

The sad thing is that upper management made so many mistakes, including a last one of total arrogance by playing chicken with blockbuster over a takeover. If they had gone with blockbuster, lots of folks would have lost their jobs, but it would not have been a total wipeout.

Mattography,
How did you view Circuit City? By no means trying to rub salt in a would, I could just never figure out how they stayed in business. I worked very shortly for Best Buy, and BB always considered their main competitors as Wal-Mart, Costco and the internet. I've been to many Circuit City stores over the years and they all seemed to have a common theme:

Very poor selection
Higher prices compared to Best Buy
Poor customer service

cowboylife wrote in post #7100601
Mattography,
How did you view Circuit City? By no means trying to rub salt in a would, I could just never figure out how they stayed in business. I worked very shortly for Best Buy, and BB always considered their main competitors as Wal-Mart, Costco and the internet. I've been to many Circuit City stores over the years and they all seemed to have a common theme:

Very poor selection
Higher prices compared to Best Buy
Poor customer service

Agreed. If I ever had to go to Circuit City to look for something, it would be my last resort. The employees always seemed so apathetic.

Circuit City died because upper management fired all the experienced service people and hired cheaper, inexperienced new people to save money in the short term. When no one can help you with a $3,000 TV set you go elsewhere. They also used to install car radios and fired all their experienced mechanics. That caused damage to customer's cars because the inexperienced guys cut things they shouldn't have.

When a service/retail business gets hit hard, the LAST thing you do is cut service! That's a suicide decision. You INCREASE service and hope your business gets better.

Think about it...if a restaurant was struggling, cutting the wait staff (thereby making service bad or worse) is the last thing you want to do.

I bet the exectutives who screwed up CC go to other companys with some big exit package and don't ever take a hit for the bad decisions they made!