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MoneyTalks - > Money Talks -> Circuit City staying on?
Circuit City staying on?

We quickly got on the horn today after reading reports that Circuit City was considering closing at least 150 stores in a bid to avoid filing for bankrtupcy. And now we're glad we placed that call, if only for selfish reasons.

The news was good, but that's not our point. James Bengal, manager of the Bakersfield Circuit City at 4230 California Ave., said that to the best of his knowledge there were no plans to close his store. It's too profitable, he said. "All I can really say is I know this store isn't closing."

Relief. Too many stores are closing right now, and too many people are about to be out of work around here. (Way too many are unemployed already).

Here's what we're referring to about the selfish glee. Last week we headed out to local Mervyns and Linens-N-Things stores (both chains are going out of business nationwide), and managers there wouldn't so much as speak to us face to face. The stores' employees told us all they could but wouldn't go on the record — which is understandable, given how uncertain these workers' employment was about to be.

Let's hope we don't hear about any more store closings soon. But if we do, let's hope managers are as upfront as Bengal was. Regardless of whether the news is good or bad.

Posted in these Groups: Business & Finance, Shopping
Topics: retail, Electronics, circuit city, stores
posted by MoneyTalks on Monday, October 20, 2008 at 05:03 PM
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posted by MoneyTalks on Oct 21, 2008 at 08:21 AM

This morning we heard back from a corporate spokesman for Circuit City, Jim Babb. Here's what he had to say, by e-mail:

"We're not going to speculate on rumors and comment beyond our original statement, which is:  'The management team, board of directors, and its strategic financial advisors are conducting a comprehensive review of all aspects of our business to determine the best methods of accelerating our turnaround and delivering substantially improved operating and financial performance. As previously announced, this includes assessing the productivity of our asset base and making decisions that are in the best long-term interest of Circuit City and our stakeholders.'"

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