Our grim predictions of the imminent epic fail of perpetual consumer electronics big box second-run Circuit City are unfortunately panning out. The WSJ and AP report that their plan to avoid bankruptcy and death is amputation: Shuttering at least 150 stores (one-fifth of their 712 US locations) and cutting “thousands” of employees, which would let them liquidate $US350 million in inventory. Like buzzards circling overhead, we just hope they make it fully intact to deliver those crazy “the economy is shit” Black Friday deals. [Dallas News]
jerry goodkind
Tuesday, October 21, 2008 at 7:57 AMIt seems to me that the more negative info that gets written by people that don’t really know what’s going to happen, the farther the stock goes down. Why can’t they get a chance to improve business without the negativity?