Circuit City Closing Stores

[SarahLovesJS]

Circuit city is closing a lot of stores which is sad because I know a lot of people are losing their jobs, but the one upside is they''re having great liquidation sales. So I thought I''d throw the word out!

 

[FireGoddess]

I saw signs today that their markdowns are 30% right now. I just wonder what happens if anything you buy breaks down a month or two from now, is there any recourse? I needed a cheap dvd player and almost went to Circuit City figuring I could get a discount, but ended up buying one at Target out of fear that Circuit City won''t be around if whatever I buy ends up being a dud. I assume at that point you''d have to go to the manufacturer? Anyway, did see markdowns are at 30% as of this weekend!

 

[SarahLovesJS]

Yep, that''s right you''d have to go through the manufacturer. Circuit city''s warranty/return policy won''t be applicable. But you could definitely get some recourse under the warranty of implied merchantability (or whatever your state calls it..not sure if it''s the same in all states) through the manufacturer. But it sounds like you found a good deal already!

We went today and got a CD, some batteries, and the game Scene It for Xbox (was on my Christmas list) for only $36..it was supposed to be $59! Not quite sure why it was that cheap, but hey I''m not arguing.

 

[Tacori E-ring]

I''ve been hearing about this for years. Guess they are finally closing.

 

[Dogmom]

This article was in yesterday''s local paper and gives some good advice about liquidation sales.


Be wary of final sales
Mary Cornatzer, staff writer
It''s time for some common sense.

Locally, there are "going out of business" sales at Linens ''N Things and Tweeter, the electronics store. Other areas are seeing liquidation sales for some Circuit City stores that the retailer decided to close before it filed for Chapter 11.

Unfortunately, there is every indication we may see more such sales before the economy rights itself. So people need to understand that liquidation is not a synonym for "deal of a lifetime."

For instance, at Linens ''N Things this week most items are still 20 percent off -- the same discount you could have gotten before liquidation using its ubiquitous 20 percent off coupons. (Those coupons, by the way, are no longer accepted.) And yet people were piling sheets and pans in their shopping carts.

"Going out of business is big business in itself," says Tony Giorgianni, an associate editor at Consumer Reports. "Just having that sign that says ''liquidation, going out of business'' is such a draw. People flock to it. They don''t think, they just assume there are deals to be had."

Prices do keep dropping but such sales can drag on; it may be weeks before there are true deals. By then there are other considerations: Does the merchandise work? Is it messed up in any way?

At most stores, we buy with the assurance that comes from implied warranties, Giorgianni says. That is, if something doesn''t work after we get home with it, we know we can take it back for a refund or an exchange. It''s in the retailer''s best interest to keep us happy and coming back.

But in a liquidation sale, items can''t be returned. If a product is broken, your only recourse is the manufacturer. And as Giorgianni points out, that manufacturer may be in China or Taiwan.

As consumers, we also need to understand that most stores in liquidation are no longer owned by the company that has gone out of business. Tweeter, LNT and Circuit City''s liquidation sales are being handled by the same liquidator. And remember, the liquidator is trying to squeeze as much profit as it can from the remaining merchandise.

Giorgianni says Consumer Reports has found instances of higher prices at liquidation sales. He also says that some liquidators supplement the inventory with items from other stores so it''s hard to know the quality of what you''re buying, he says.

There''s no evidence that any of those things are happening at liquidation sales here, but buyers should still be wary. So how can we get deals but not get taken?

* Wait. Don''t rush in the first few weeks.

* Be pushy. Plug electronics in, turn lamps on, roll open rugs -- know what you''re really buying.

* Check with the manufacturer to make sure the warranty will be honored before you buy.

* On a big item, pay with a credit card -- but one without a balance so you don''t accrue charges immediately. If there is something wrong with the item, you may be able to challenge it.

* Research. Know what the products typically cost. If you''re at the store and want an item you haven''t researched, call a friend from the store and request a Google search. As Giorgianni says, if you can get the item for the same price from a merchant who''s still in business, why take the risk? It might also help the economy.

"To the extent that you''re buying merchandise at a liquidation, you''re hurting the merchants that are in good shape, and putting them at risk," Giorgianni says."

 

[MichelleCarmen]

Date: 11/17/2008 10:52:32 AM
Author: Dogmom

For instance, at Linens ''N Things this week most items are still 20 percent off -- the same discount you could have gotten before liquidation using its ubiquitous 20 percent off coupons. (Those coupons, by the way, are no longer accepted.) And yet people were piling sheets and pans in their shopping carts.them at risk,'' Giorgianni says.''

Last night I was looking at the Linen ''N Things site thinking I would find Yankee Candles for super cheap, but alas, they''re priced at $17.59 for the 14.5 oz, which is only $4.40 cheaper than regular price (yep, the amount the 20% coupon would cover - exactly what was pointed out in that article). I''d like to get some new towels, but will wait until they become truely a bargain. . .say $1 per towel, I won''t bother going in there.

 

[Tacori E-ring]

I went to L''NTs last week b/c the matching towels are ONLY there (to my DD''s bathroom) and was SHOCKED how much crap people were buying. The sales were not the great (a few section was 30%-40%) but the rest was 10%-20%.

 

[Skippy123]

Date: 11/17/2008 1:00:28 PM
Author: Tacori E-ring
I went to L''NTs last week b/c the matching towels are ONLY there (to my DD''s bathroom) and was SHOCKED how much crap people were buying. The sales were not the great (a few section was 30%-40%) but the rest was 10%-20%.

That is how Mervyn''s was too when my mom went; she said some of the same or similar items were the same price as Sears. She ended up buying slippers and gloves from Sear''s because they were the same price.