bankruptcy news

Mark Cowherd · #1 05-08-2008, 04:07 PM

I just received email from a DC Metro friend stating that the following chains are now in bankruptcy. I dont know if some of the chains have locations around here, but in the DC area and nationally these are major players. I Googled some of these and it seems to be true. Scary. It really is.

> Hollywood Video
> Levitz
> Sharper Image
> Performance Team Freight
> Linens n Things
> Circuit City
> Bed, Bath and Beyond

__________________
So young... so bad... so what?

Reform School Girls 1986

Last edited by Mark Cowherd; 05-08-2008 at 04:25 PM..

Tracy · #2 05-08-2008, 04:26 PM

If you have gift cards....better use them now!

motherof3 · #3 05-08-2008, 04:38 PM

Thanks Mark, We go to Hollywood video for all of our videos. Plus you can buy used DVD's fairly cheap. Damn. I love the Sharper Image but their stuff is WAY beyond my budget!! I knew about Circuit City, my hubby almost cried over that one. He loved that store. Used to drag me all the way up to 202 to go there. Personally I was not unhappy to see it go. lol

IrishTam · #4 05-08-2008, 04:43 PM

yeah, the Hollywood Video near me (Rt 7 & Kirkwood Highway) already closed.

I didn't know about Circuit City or BedBath&Beyond, tho!!

Mark Cowherd · #5 05-08-2008, 05:02 PM

Quote:

Originally Posted by motherof3

Thanks Mark, We go to Hollywood video for all of our videos. Plus you can buy used DVD's fairly cheap. Damn. I love the Sharper Image but their stuff is WAY beyond my budget!! I knew about Circuit City, my hubby almost cried over that one. He loved that store. Used to drag me all the way up to 202 to go there. Personally I was not unhappy to see it go. lol

In a cost cutting move, about a year ago Circut City management terminated most of their sales staff so to hire staff at a lower wage. Now it's time for them to Reap!!!!!!!

__________________
So young... so bad... so what?

Reform School Girls 1986

witchofthedogs · #6 05-08-2008, 05:08 PM

I work in the corporate bankruptcy field (and have done so for the past 11 years) and I just want to point out to you that "bankruptcy" does not mean "liquidation". Many of these corporations are in reorganizational Chapter 11 cases. Yes, there are stores they will shut down in order to reorganize and streamline things, but it does not mean the company closes up shop all together. Some companies end up doing this, yes, but generally not most.

Assets are often sold to competitors or the company simply continues doing business while paying down its creditors.

But bankruptcy does not always (nor generally) mean a total cessation of business.

motherof3 · #7 05-08-2008, 05:16 PM

Quote:

Originally Posted by Mark Cowherd

In a cost cutting move, about a year ago Circut City management terminated most of their sales staff so to hire staff at a lower wage. Now it's time for them to Reap!!!!!!!

Now that you mention it there was hardly ever some one available to help when we went there. We went one time and waited about 20 minutes or so while a rep helped someone else and ignored us completely. So I finally lost all patience and told hubby as loudly as I could that we'd take our $400 bucks and buy a flat screen at another store that actually wanted customers, and then we walked out. My hubby hates it when I do stuff like that, but damn I'm only going to wait so long to spend my hard earned money in YOUR store moron.

Spyder08 · #8 05-08-2008, 05:30 PM

We purchased a TV from Circuit City several years ago and purchased the extended warranty. We had nothing but problems when we tried to have the TV serviced. Ever since then I drive a little extra to go to Best Buy. I refuse to go to Circuit City.

We used to go to Hollywood Video alot. If we weren't renting we were buying the previously viewed DVD's.

longnecker · #9 05-08-2008, 06:14 PM

Quote:

Originally Posted by motherof3

Now that you mention it there was hardly ever some one available to help when we went there. We went one time and waited about 20 minutes or so while a rep helped someone else and ignored us completely. So I finally lost all patience and told hubby as loudly as I could that we'd take our $400 bucks and buy a flat screen at another store that actually wanted customers, and then we walked out. My hubby hates it when I do stuff like that, but damn I'm only going to wait so long to spend my hard earned money in YOUR store moron.

Het mom you're my kind of girl!!!

Green Lantern · #10 05-08-2008, 06:18 PM

I remember reading somewhere that Circut City was trying to make a bid for Blockbuster Video

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