Circuit City pulling out of KCMO and KCK

[Stewie]

Originally Posted by Demonpenz

I went to CC awhile back when they were closing, there were no good deals even at closeout prices, i just went on my phone found ones better

Liquidators buy the inventory and try to sell if for all they can when there are mass closings of a retailer. It will appear that CC is having a blowout since it's in their store, but more than likely they've already sold the inventory for pennies on the dollar and the liquidator is pricing the goods as high as possible.

[Demonpenz]

Originally Posted by Stewie

Liquidators buy the inventory and try to sell if for all they can when there are mass closings of a retailer. It will appear that CC is having a blowout since it's in their store, but more than likely they've already sold the inventory for pennies on the dollar and the liquidator is pricing the goods as high as possible.

that is good to know. I thought it was just because they were going to send the goods back to another store or something

[Bugeater]

Originally Posted by Stewie

Liquidators buy the inventory and try to sell if for all they can when there are mass closings of a retailer. It will appear that CC is having a blowout since it's in their store, but more than likely they've already sold the inventory for pennies on the dollar and the liquidator is pricing the goods as high as possible.

Why the heck wouldn't CC just do that on their own?

[Stewie]

Originally Posted by Bugeater

Why the heck wouldn't CC just do that on their own?

They're bankrupt and don't want the expense of keeping employees and their benefits on the books. They need cash fast and that's the easiest way to do it. I'm not saying this is what's happening with CC, but it happens in most large retail bankruptcies.

[Valiant]

Originally Posted by Stewie

They're bankrupt and don't want the expense of keeping employees and their benefits on the books. They need cash fast and that's the easiest way to do it. I'm not saying this is what's happening with CC, but it happens in most large retail bankruptcies.

They still had to pay employees PTO and insurance during my liquidation..

Of course the company also said all PTO would be paid at termination on their main page, but in small print said they would no longer be paying it out and that was in a PDF document 14 pages long on another page..

What is great the same company would try and force you to not use your PTO.. If you worked 40 hours a week they would say you could not use any.. If you worked 30, you could use 10, but only if you were normally scheduled for 40..

They said it was illegal to pad your checks..

Well me, being the ass that I am.. faxed all my hours in.. Then I faxed everybody hours in also.. Luckily they all went through.. Some people had 200 hours of PTO saved up..

[Valiant]

Originally Posted by Bugeater

Why the heck wouldn't CC just do that on their own?

I have no idea??

But I think it is because of something to do with bankruptcy..

Or they might have to pay a severance if they do??