Goodbye Circuit City - Final liquidation begins January 17th, 2009 - Updated
Circuit City officially announced that it is going out of business today. The number two largest electronics retailer begins final liquidation sales on January 17th, 2009 in all of its stores in the United States. Read on for details.
Circuit City's site has a detailed FAQ here. I have summarized the most important information below:
- The stores will close as soon as all merchandise is liquidated. It is expected that the sale will last until March.
- Circuit City gift cards are still valid for purchases during the liquidation. Use them now if you have them because they will be worthless after the store closes!
- Specific discounts will be up to the liquidators and all sales are final.
- Canadian Circuit City stores will stay open.
- Cash and most credit cards are accepted, but not personal checks.
- Extended warranties already purchased will not be affected.
I think deal hunters are probably wondering how much of a discount they can expect from Circuit City. I actually went to a Circuit City liquidation a month ago when they shut down a portion of their stores and the price cuts were decent. The biggest discounts were on hardware and big screens which were 40% to 60% off, and the smallest discounts were on video games which were 25% off. We did find some decent games for under $10, but they were mostly old. The particular store I went to actually had their shelves and other fixtures for sale. Basically, they are trying to get rid of everything, and perhaps you could negotiate prices with the liquidators tomorrow at Circuit City.
It should be interesting to see what the liquidation will be like, and I am sure a lot of people will show up like vultures flocking onto a carcass, but hopefully everyone will be able to find a good deal on something they need. Finally, I think it is a bit sad that Best Buy will be losing its closest competition and I hope the employees of Circuit City will be able to find jobs in the 60 days they have been given.
I just went to the local Circuit City in San Mateo and the discounts were as follows: 30% off cables, 20% off CDs and DVDs, and 10% off everything else. This obviously isn't spectacular, but the line had about 50 people in it. The store I mentioned that had the 40% to 60% discounts was in East Palo Alto, and I went there in the 4th week of their liquidation. So I guess the better deals may come later.
Have you gone to the Circuit City liquidation? Share your experience and best deals here!