This is a rumor that is making its way around the net right now. Earlier the Wall St. Journal reported that about 150 stores would be closed by the end of the year. This looks to be true and be announced tomorrow. But why wait? There's more! You can have a sneak preview on a store-by-store basis by checking their store locator to see if your favorite shopping store or employer is listed there.
Obviously 150 store closing would have a dampening effect on the employees there and their capability to take on new credit and/or spend with loose pockets. In the short term CC's liquidation may hold back customers from Best Buy this holiday season. In the long term, Best Buy will now have less competition as their chief competitor shutters many shops.
Further, it is some people's opinion that Circuit City store closures will not be enough to get them back on track in the terrible consumer spending environment. This opinion means that eventual bankruptcy is in their future. I would hold that opinion along with the other people.
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1 comment:
yes i agreed that the stores were closed due to bankrupt, so govt. have to take some action vary soon to close the stores.
Rax
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