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Circuit City liquidates inventory

Shoppers find bargains, express remorse

Posted: January 16, 2009 9:36 p.m.
Updated: January 17, 2009 8:00 a.m.
 
Some local shoppers felt bad that all Circuit City stores were closing, but they were ready to take advantage of the liquidation sales that could start today.

"I'll pick up a TV if there's a liquidation sale," said Julia Campos, 26 of Valencia, as she stood in the parking lot of the Circuit City on The Old Road.

Circuit City Stores Inc., officials announced Friday it will be going out of business and closing 567 U.S. stores. According to the Circuit City Web site, the company's assets will be liquidated to pay off creditors.

"I feel sorry for the employees," said Kristie Redmond, 23.

About 34,000 workers will be laid off from the company's U.S. stores.

Local Circuit City officials declined to comment on how many employees would be laid off.

Circuit City filed for Chapter 11 bankruptcy protection in November, but due to "challenges to our business and the continued bleak economic environment," the business was forced to liquidate.

Products purchased prior to Friday can be exchanged or refunded, but when closing sales begin today, all sales will be final, store officials announced.

Gift cards are redeemable at full value during the liquidation sales.

Circuit City's extended warranties, current or future, will not be affected by the liquidation.

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