Circuit City files for bankruptcy
[Via Bloomberg, image courtesy of AFSmith; thanks Daniel]
Posts with tag rip




Days after we first reported that CompUSA could be shutting down for good very, very soon,
MovieBeam is calling customers today and telling them that the datacasting HD movie service is ceasing operations as of December 15th, with certain customers eligible for a refund on the hardware. It's been rocky going for the company since spinning off from Disney a couple years ago, with a series of investments and acquisitions along the way, but none of the owners ever really managed to make the limited-selection, high-DRM, wonky-quality movie rental business model really work. Although we're always sad to see another gadget fade into that sweet night, something tells us we're not going to mourn for long.
So we've heard enough banter about CompUSA being on its last legs and possibly shuttering completely after closing more than half the chain's stores earlier this year. Well, chalk this up to rumor (in fact, rumor with prejudice if you must), but we're privy to a high-level internal email competitor Best Buy recently circulated which claims to have it on authority (but not "verified") that CompUSA's holiday revenue is half what it was last year (which, as commenter Hans points out, might have to do with those store closures), store-restocking shipments are not being scheduled past February, and additional liquidators are being called in to help manage closure of the 103 remaining stores. Sure, it could be a sneaky misinformation campaign -- or it could be the truth. We gave CompUSA a ring, and their PR team has yet to respond to the claim; but for what it's worth, if we weren't already hearing this kind of thing elsewhere (or didn't believe it plausible) we wouldn't waste your time.









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