The title pretty much spells it out. According to the AP, the final approvals for liquidation have went through and that means all stores closing, and about 30,000 fine (or not?) employees will be out of jobs. This, of course, means fewer people with steady income and more fuel to the fires of a crumbling economy to the best of our, a video game blog’s, knowledge.
But that’s the bad news.
The good news is liquidations. These can begin as early as today and according to the liquidators at Hudson Capital Partners, the franchise’s $1.8 billion inventory will start with discounts in the 30% range and increase as the liquidation progresses. Fingers crossed for a super cheap game or two or three.
And then there’s tangential “eh” news that can be interpreted several ways: Canadian Circuit City stores may have bidders who will save them. May.
All the same, the image that runs through my mind is those old commercials where the giant red power plug dropped, shot up sparks igniting that old Circuit City logo and inviting all to spend spend spend. Now that image recurs, but in rewind, with the power blacking out and the plug being pulled… permanently. Cheers Circuit City. Say hello to Tower Records and The Good Guys for us.