First, read this.
Now, let's discuss. They are actually asking for a bankruptcy court to liquidate their assets, which in essence means that they will be closing all their stores. What does that mean us? Best Buy has no real competition now, as far as I can tell. Richmond, VA (the city in which I live) is going to be going through an even tougher time with the real estate and job markets because 10,000+ people will probably be laid off. What this means is my beloved Richmond, VA will continue in this economic downturn for years to come.
It's a sad day in Richmond.
But I can say that Circuit City had it coming. Over the past couple of years, I have had nothing but bad experiences when I go there to shop. What used to be my favorite place to shop became my least favorite. They did it to themselves. But I'm sorry to see them go, because competition breeds competitiveness.
Episode 153: Hot As Balls
-
Episode 153: Hot As Balls – In the post-E3 show, we recap one of the most
boring E3’s in the history of MAHG. We then talk about the wonderful
Wonder Woma...
8 years ago
"Statements made in this release may be considered forward-looking statements…." Heh, a little late for that.
ReplyDeleteI used to like browsing there. I even bought my first computer there when I first graduated college, and bought my first LCD TV from them.
Unfortunately, them trying to bait-and-switch me more than once (at multiple stores) and less-than-friendly employees on a few occasions really soured my opinion of them as a whole. I long since lost any "good" feelings about shopping there. (Although I admit that LCD TV purchase went alright.)
The lack of competition, though, is unfortunate. Department stores don't compete on selection. I've heard Fry's is great, but we don't have one here. I guess hoping they'll take this as an opportunity to expand is too much to hope for at this period in economic history.