Posts Tagged ‘Circuit City’

     I don’t know about you…but, I find it heartbreaking that businesses here in the US are dropping like flies.  Today, it was announced that Circuit City has gotten the go ahead to liquidate their assets, since they were not able to secure a buyout or a refinancing plan.  

     Five hundred and sixty seven Circuit City stores in the US are involved; and, that means that over 30,000 employees are now going to be unemployed soon.  The thing is that the merchandise will now be liquidated and it will unleash an ongoing picking of the bones of merchandise; until that merchandise is sold off to help offset Circuit City’s debt load.  There are always those who will take joy or glee from someone else’s misfortune; or find a way to benefit from it.   Just this past week, Osama Bin Laden released a tape where he appeared to gloat at the United States’ financial chaos.  That just doesn’t sit well.

        I hate to even hear about liquidation sales.  In theory, I don’t like the fact that people will flock to those stores to get “great deals” that most of them really can’t afford; but, can’t seem to resist since the prices are at “rock bottom”.   Often, they really aren’t…it is all in the perception.  Still, those kinds of sales feel like vultures are picking the bones of a carcass on the side of the road to me.   

     I’ve often thought to myself…if all of those people who flock to those liquidation sales would have shopped there previous to the liquidation sales; then, maybe they wouldn’t have had to file bankruptsy, and gone out of  business in the first place.  That might be a bit judgemental…but, it is my opinion…nothing more.    On the other hand, the stuff has to be sold to “help” Circuit City meet the financial demands of their creditors.  Therefore, the liquidators are providing a service to the owners and operators that is badly needed.

          It is still sad though that the stores involved in these situations, often even look like skeletons.  They have the heavy environment of sadness and depression.  The workers that stay- -stay because they need every day on the job that they can get, in this economy; before having to pound the pavement looking for a replacement job or filing for unemployment.  The stores begin to take on the appearance of a person who is terminally ill; but, is fighting to survive no matter the cost.  The shelves are bare in spots and the products are often sold without their boxes or original packaging; and, off of display shelves…meaning they are sold as is…with or without instructions, adaptors, cords, or add-ons.  It is terribly sad.  Eventually, there is nothing left to sell but display racks, shelves, registers and lighting. 

     All in all…it ups the pressure on those trying to steer the economy of the US, as it struggles to regain a foothold on the slippery slope to financial stability.  This sad news will add another 30,000 job seekers to the already saturated job market…and, add burdens to those families who are fearful and struggling to survive the financial woes of our country.   It is bad news to those who hoped that 2009 would be the beginning of  a financial recovery period for those who are trying to earn an honest living.   I wish them well.


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