by WKRG Staff/The Associated Press
Published: Fri, January 16, 2009 - 1:18 pm CST
Last Updated: Fri, January 16, 2009 - 5:41 pm CST
Circuit City Stores Inc. says it has reached an agreement withliquidators to sell the merchandise in its 567 U.S. stores after
failing to find a buyer or a refinancing deal.
There are four locations on our stretch of the Gulf Coast - Mobile, Pensacola, Fort Walton and Gulfport.
The second-biggest electronics retailer in the nation says in
court papers it has appointed Great American Group LLC, Hudson
Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group
LLC as liquidators.
Calls to the Richmond, Va.-based company and the liquidators
were not immediately returned.
Circuit City filed for Chapter 11 bankruptcy protection in
November. U.S. Bankruptcy Judge Kevin Huennekens gave the company
permission to liquidate if a buyout was not achieved.
Will Circuit City stores continue to accept Circuit City gift cards?
- Yes, customers holding Circuit City gift cards may redeem them at full value at our stores during the liquidation sales. Once the stores are closed and the company is out of business, the gift cards will have no value.
Are Circuit City's extended warranties affected by the liquidation?
- No. Circuit City Advantage Protection Plans® (extended warranties) have been backed by third-party independent companies for more than 15 years and as result, are not impacted by Circuit City's closing.
When will the liquidation sales begin?
- Liquidation sales begin as early as Saturday, January 17, 2009, and will last as long as it takes to sell through the merchandise at each of the stores. We expect the sales to wrap up by the end of March 2009.
How much will merchandise be marked down, and can customers negotiate prices for the merchandise?
- There will be clearance pricing, but specific discounts are not being announced. All sale prices are at the discretion of the liquidator. Prices are non-negotiable and all adjustments must be approved by the liquidator's on-site managers.
- Stores will accept cash, Circuit City gift cards and most credit cards. Personal checks will not be accepted. All sales are final.
Will delivery service be available for products purchased from liquidation stores?
- No. Unfortunately, we will not be able to provide delivery services for products purchased from liquidation stores.
Will Circuit City offer home theater installations during the closing sale?
- Yes, we will continue to offer home theater installations during our closing sales.
Will Circuit City offer PC services and repairs at liquidation stores during the closing sale?
- Services already underway at the liquidation stores will be completed promptly, but no additional jobs will be accepted at these stores.
Will car electronics installations be available at liquidation stores during the closing sale?
- No new car installations will be offered.
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