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Showing posts with label circuit city bankruptcy bankrupt. Show all posts
Showing posts with label circuit city bankruptcy bankrupt. Show all posts
Monday, January 26, 2009
Bloody 2009: Over 207,120 Jobs will Lost
Jobs lost is become one of the scariest for all over the world.Jobs cuts is making really bad scene for that particular country.It has been slashed 71,4000 jobs on Monday.It's very sad day.
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Click here and find more about this news.
Friday, January 16, 2009
Circuit City To Close 567 US Stores
Bankrupt Circuit City Stores Inc., unable to work out a sale of the company, said Friday it will go out of business - closing its 567 U.S. stores and cutting 30,000 jobs.
Circuit City filed for Chapter 11 in November as vendors started to restrict the flow of merchandise ahead of the busy holiday shopping season.
Monday, November 10, 2008
Circuit City files for bankruptcy
Stores may close at least 150 stores in a maneuver to avoid sliding into bankruptcy, according to reports.
Circuit City hired outside help to develop a turnaround plan and is talking with investment bank Rothschild to help secure emergency funding, according to The Wall Street Journal.
Earlier this month, Circuit City, Richmond, Va., was downgraded by retail credit-rating service Bernard Sands after the retailer reported a $239 million loss in its second fiscal quarter.
The report of closing stores comes just a couple of weeks after Circuit City told the Richmond Times-Dispatch that it planned to cut back on the number of stores it planned to open by the end of its fiscal year in February 2009. Through Aug. 31, Circuit City had opened 29 stores this fiscal year and had planned to open as many as 26 more, according to the newspaper.
Last week, Circuit City launched a campaign promising the same price for in-store purchases as for products bought online. The company said a study found that consumers would place more trust in a retailer that offered the same price through different channels.
Shares of Circuit City closed at 39 cents on Oct. 17. The stock was trading as high as $5.75 per share in April.
In September, Philip Schoonover stepped down from the company as chairman, CEO and president and was replaced on an interim basis by James Marcum as president and CEO.
Circuit City hired outside help to develop a turnaround plan and is talking with investment bank Rothschild to help secure emergency funding, according to The Wall Street Journal.
Earlier this month, Circuit City, Richmond, Va., was downgraded by retail credit-rating service Bernard Sands after the retailer reported a $239 million loss in its second fiscal quarter.
The report of closing stores comes just a couple of weeks after Circuit City told the Richmond Times-Dispatch that it planned to cut back on the number of stores it planned to open by the end of its fiscal year in February 2009. Through Aug. 31, Circuit City had opened 29 stores this fiscal year and had planned to open as many as 26 more, according to the newspaper.
Last week, Circuit City launched a campaign promising the same price for in-store purchases as for products bought online. The company said a study found that consumers would place more trust in a retailer that offered the same price through different channels.
Shares of Circuit City closed at 39 cents on Oct. 17. The stock was trading as high as $5.75 per share in April.
In September, Philip Schoonover stepped down from the company as chairman, CEO and president and was replaced on an interim basis by James Marcum as president and CEO.
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