Woodland Hills (CA) – The liquidation of merchandise at Circuit City stores nationwide appears to have gone much better than expected – or worse, depending on your view. Today, the company overseeing the final days of the bankrupt retailer said the chain will be closing its doors permanently on March 8 — one week earlier than originally planned.
“Thanks to record shopper turnout at many of the store locations and the attractive discounts offered on all merchandise, the sales actually went quicker than we expected,” said Scott Carpenter, executive vice president of Great American Group, which managed the sales activity as part of a joint venture group.
All stores will close permanently on Sunday, March 8 and some of the 567 locations have already closed their doors due to depleted merchandise. Circuit City’s going-out-of-business sales started on January 17 and involved $1.7 billion in retail inventory.
Prior to its closing, Circuit City was the nation’s second-largest consumer electronics retail chain in the U.S. Other major retailers that have closed in recent months include Mervyns, Steve & Barry’s, KB Toys, Shoe Pavilion, and Linens ‘N Things.