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Yep, and I love it.
1 replies
As in all of the people who line up to pay more. Ahh, aren't we all so smart.
Yep, and I love it.
As in all of the people who line up to pay more. Ahh, aren't we all so smart.
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Liquidate the liquidators!
Id like to know how Circuit City started the liquidation so fast. They announced Bankruptcy on a Friday and Saturday morning they already had the liquidator employees on the street corner holding those signs. How did they hire the liquidation people, make the professional signs with the CC logo, and reprice the whole store in less than 1 day
@Gorphlog: no one in my store knew the company was actually going into liquidation until the news broke on that friday. Employed there for 2+ years and found out via text message. Finding out that same text message was sent to the store director to inform her of the situation.
@Gorphlog: Maybe because they already had a couple hundred stores in liquidation from before? This was just expanding the partial liquidation to include the whole company.
Also: Disagree that this is merely another \"liquidation sales suck\" story. It gives some strategies for actually getting some deals (go on Wednesdays after the new markdowns take place).
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@Gorphlog: Even if the liq companies didn't get the notice until Sunday night, they would have been ready on Monday morning.
Like my job, the liq companies are ready to go at a moments notice. I've been sitting at home reading consumerist and then been at a location fixing a Point of Sale server halfway across the country 6 hours later. I have everything I need to travel, including the required tech to get the job done, sitting neatly in a corner of my closet. When the call comes, I hang up the phone, grab the bags and go out the door.
@Gorphlog: The liquidation auction had been held about a week prior. And I wouldn't be surprised if Circuit City's records held MSRP for at least the majority of their products, since that was what things were generally marked back up to.
And the bankruptcy declaration itself happened months ago.
@Gorphlog: Well, lets be fair, repricing a store in a day isn't exactly difficult. How do you think stores suddenly reprice their whole store for a sale overnight?
Your biggest problem is simply bringing in enough people to replace all the signs when it happens.
@Gorphlog: I'm sure it was known days in advance that CC was going to be liquidated, even though we didn't hear about it until last Friday.
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@Gorphlog:
Good question. CC had been in trouble for quite a while. Companies have contingency plans for this sort of thing all the time. The management of this company had shopped it to a couple of potential buyers and they passed (probably after peeking at the books and realizing that the company's business model was idiotic).It was a simple matter of flipping the switch and getting the liquidators in there before stuff started walking out and the employees started leaving in droves.
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I am fairly certain I recall reading something LAST YEAR about how Circuit City's inventory had already been sold to a Liquidator.
The actual \"Circuit City\" had not yet gone Bankrupt.
That news seems to have to have just been glossed over.
I am also fairly certain that none of them practice beastiality though I cannot say for sure.
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@scarletvirtue: Yeah, google had that below this in terms of order so I felt real dumb when I scrolled
And unfortunately, people think liquidation=deals.
I hope this gets ingrained into people's heads so we can actually score deals when stores go out
@coren: Well, look. If economics means anything, if there's such a thing as supply and demand, then the only way to move merchandise quickly - liquidate - is to lower prices.
These liquidators are either total idiots, or else its economists who are the idiots, or maybe consumers, I guess - whoever the idiots are, by the book it shouldn't be possible to clear the stores except by deep discounts. Even if consumers are mistaken that \"liquidation\" means lower prices, that had to be true at one time - or else why would consumers make that association?
I would just LOVE to get together a group of people that would not go into that store until the percentage hit even 50% off. Obviously this is an impossible idea and SOMEONE will go into that store and buy something, so it wouldn't work and when one goes so does everyone else. But I think it would be really sweet if something happened and a whole town rallied against a store going out of business and didn't buy anything until the discount was at least reasonable.
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Liquidator says \"Do we get it wrong sometimes? yes.\" How honest except I think he means they don't get away with their deceptions to the consumer.
They say they are trying to help Circuit City pay off their creditors. How nice. Well, then don't charge them very much for your services, Mr. Liquidator.
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Why are people surprised the company is still trying to make money off its remaining stock? That's like expecting a dying man to hold his breath instead of gasping for whatever air he can get.
And who wouldn't haggle? If you go in expecting to get something, or look desperate, they're not going to give it to you. If you walk in and offer 80% of what they're asking for a big ticket item they can't sell, and you look prepared to walk, odds are they'll give it to you. Haggle, yes, but don't expect them to give it away.
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\"...to help Circuit City repay its creditors.\"
What utter and complete bull.
Folks, the liquidator is only in this to help...say it with me now...the liquidator. The only \"help\" CC is going to get from the liquidator has already been tendered when they BOUGHT the assets. This isn't an ongoing percentage thing based on how much the liquidator gets for the crap left in the store.
@doctor_cos: Well actually, it would depend on how they structure the contract. The deal could be structured either way.
The statement about the best deals taking place a week before liquidation is absolutely true. I was in Goody's (a rare occasion) about a week & a half before they started liquidation - before anyone knew they were about to close. The sales were amazing, I bought several pieces of costume jewelry for like $2 each. Also lots of clothing items for 60-70% off. I haven't gone back since liquidation began but I bet the sales are not as good now.
unfortunately like sam said in his article, there is no way at least for former circuit city employees to do price markdowns. Managers are being threatened with firing and only one in my store has the ability left to do it. It's not a sale, the consumers need to wait out another 3 weeks or so to really get a decent deal.
All I can do when I read these article is read \"CompUSA\" instead of \"Circuit City\". Time and time again when everyone cries foul about the CC liquidations, it was the exact same process when CompUSA liquidated, and no one made this much huff. Everyone needs to calm down about the liquidation. If you didn't know your mileage would vary going into the store, shame on you.
The prices are supposed to be 50% off on some items, but the price 50% off is still the same price that other stores charge for the same item. A \"50% off\" package of photo paper was $25, you can get the same package at Office Depot for the same price. I think they rose there prices before they started their \"liquidation\".
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Boy, you guys are really beating this Liquidation sale thing to death, huh?
@pjstevens77:
Probably because they know the average consumer is a retard.
@pjstevens77: I totally agree. I think that there is a minimum requirement to post at least two articles a day stating liquidation sales stink.