Tuesday, November 11, 2008

Circuit City to be a lost city

Chapter 11 in the dreaded book for Circuit City. The no. 2 electronics retailer in US filed for bankruptcy on Monday. That's Fortune 499 for the moment then.

Of the 566 stores operating 155 are planned to be closed. Quoting from the CNN website, CC has said that they would "We remain committed to doing a better job of taking care of our guests, and making it easier to shop at Circuit City." So they would still be in the business temporarily. Translation: bigger better bargains in the coming few months. But i guess that is moot: will the people have enough money to buy that 53" HDTV?

Bob Dylan for the soul:
Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'

ps: Somehow I feel the worst is yet to come :|

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