Saturday, March 7, 2009
Circuit City's Last Weekend
This is it--the last weekend of Circuit City's life as an appliance and electronics retailer. Ten years ago, before the dot-com bust, Circuit City's home page featured a free e-machine PC (after rebates). Yesterday, as shown above from the Houston Chronicle, the shelves are bare and the pickings very slim.
BusinessWeek writes about the role of liquidators and the mountain of merchandise they have to sell to settle the affairs of failed retailers. So few shoppers, so little time to liquidate.
The list of once vibrant, now defunct retailers goes on and on and on, from Kresge's (which founded Kmart decades ago) to B. Altman to Zayre's to . . . Circuit City and beyond. As the textbooks say, the Wheel of Retailing never stops revolving. What new retail craze will come along? And which store will be the next to close its doors forever?