And the saga of Circuit City comes to an end. The companies managing the liquidation of the left over Circuit city inventory have announced that March 8 will be the last day of operation for the retail electronics chain.
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The liquidators have announced that some stores are already closed after running out of merchandise. For the last eight weeks, the stores have been selling off inventory at a nice pace with some impressive discounts.
I mentioned a few weeks back that the sale off had moved $1 billion in inventory since it started in January. According to the liquidators the sale off has now moved $1.7 billion in inventory. “Thanks to record shopper turnout at many of the store locations and the attractive discounts offered on all merchandise, the sales actually went quicker than we expected,” noted Scott Carpenter, executive vice president, director of operations, for Great American Group, which has been overseeing all the sales activity as part of a joint venture group.
Via Circuit City