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I heard that by this Friday if they do not find a buyer they will close. "The company added it is optimistic that a deal will be negotiated. If that doesn’t take place by Jan. 16, when a sale hearing is scheduled, however, it could begin the process of liquidating its assets."

http://www.bizjournals.com/albuquerque/stories/2009/01/12/daily2.html
 

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wonder who is talking to them right now on a purchase? bet they are getting lowballed.


Where I live, HHGregg has come in to area in last few years and it seems to me that them and Best Buy dominate the market and has left Circuit City as an after thought.
 

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I just bought my Panny PZ85U from CC with the extended warranty. What happens when they close, if I ever need it serviced - is it going to be a pain to have it done?
 

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this will likely be great for those seeking 2nd or 3rd tier diplays, but as soon as they drop the front line merch even 20% it'll be gone.


These "liquidations" are usually a joke for truly great electronics. Not to mention the inherent risk that goes with no vendor to answer for faulty units.


Buyer beware.


James
 

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Quote:
Originally Posted by TTran50 /forum/post/15542754


I just bought my Panny PZ85U from CC with the extended warranty. What happens when they close, if I ever need it serviced - is it going to be a pain to have it done?

that my friend, is the $64,000 question.


James
 

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Aren't most B&M store extended warranties issued from a third party?

Also how old is your purchase? See if you can get a refund from CC for the warranty and purchase it yourself through from somewhere else if it isn't a third party.
 

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I just received this in the mail from Discover Card:


Circuit City Good Through 2-28-09

$10.00 OFF A $ 75.00 Purchase

$20.00 OFF A $150.00 Purchase

$30.00 OFF A $300.00 Purchase

(Has The Usual Restrictions No Bose, Vacum Cleaners & Etc)


10% OFF Any TV 42" & Up

(Excluding Outlet, Open Box, Red Dot Clearance, Red Hot Value & Gift Cards)


20% OFF Any Firedog Service $149.00 & UP


Doesn't say anything about "Price Matching" prices so if you can get them to Price Match a tv & then Take 10% OFF of it there might be some pretty good deals available.


But it makes me wonder why Discover Card would enter into a deal with an outfit that they know might be going out of business?
 

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I don't understand really how credit cards work, but if they close, am I still going to get the remaining 18 months of no interest on my last purchase?
 

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Quote:
Originally Posted by abeas /forum/post/15543895


I don't understand really how credit cards work, but if they close, am I still going to get the remaining 18 months of no interest on my last purchase?

Yes
 

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I'd figure that stuff like financing and extended warranties are handled by third party companies, so those things will PROBABLY still be honored. If you're worried, though, read the fine print on the agreements and see who the parties are. If it's Circuit City itself, that could be a problem.
 

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Quote:
Originally Posted by regnad_kcin /forum/post/15546817


If CC goes belly up, the extended warranties will be worthless. That's one reason why you should never buy extended warranties.

I don't think this is true - the warranty providers are bound by law to honor the warranty for it's duration even if the store where you purchased it has gone out of business. A long time ago when Pacific Stereo went out of business i was able to get my Sony auto-reverse cassette deck repaired under the extended warranty, and a few years later i was able to get my Sony Trinitron TV fixed two separate times under the extended warranty after L.A.Tronics went out of business. In both cases i had received letters basically stating that although the stores were closing, the extended warranties i'd bought would still be honored and gave me the new contact information for any future claims which i ended up having to use. I had no trouble getting my items repaired at no charge, and i the cost of the repairs would have far exceeded the price i paid for the warranties so i came out smelling like a rose on those warranties and ended up several hundred dollars ahead. This is why i almost always buy extended warranties on expensive items.


I don't think the laws have changed since then, unless you have information to the contrary.
 

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CC stated in November that all extended warranties were being sold through them on behalf of national extended warranty providers. That CC would own/hold none of them. Thus all extended warranties will be honored even if they cease to exist.


At least that is what they said. Your extended warranty should state who the provider/servicer is.
 

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Quote:
Originally Posted by RandyWalters /forum/post/15547511


I don't think this is true - the warranty providers are bound by law to honor the warranty for it's duration even if the store where you purchased it has gone out of business. A long time ago when Pacific Stereo went out of business i was able to get my Sony auto-reverse cassette deck repaired under the extended warranty, and a few years later i was able to get my Sony Trinitron TV fixed two separate times under the extended warranty after L.A.Tronics went out of business. In both cases i had received letters basically stating that although the stores were closing, the extended warranties i'd bought would still be honored and gave me the new contact information for any future claims which i ended up having to use. I had no trouble getting my items repaired at no charge, and i the cost of the repairs would have far exceeded the price i paid for the warranties so i came out smelling like a rose on those warranties and ended up several hundred dollars ahead. This is why i almost always buy extended warranties on expensive items.


I don't think the laws have changed since then, unless you have information to the contrary.


I don't know what the law is, but my personal experience is the opposite of yours. I suppose if a company declares bankruptcy, extended warranty claims would be fairly high on the priority list of who gets the left overs, if there are any leftovers.


I'm interested in the CC situation because I have a CC credit card. I have about $60 in rewards points saved up. A couple of months ago I requested a certificate for my points. I never got it. When I tried to go the CC rewards redemption web page today to try again to redeem my points I got the "page does not exist" message.


Another reason I never buy extended warranties is due to my experience as a temporary sales person a few years back at a certain electronics store. I was selling PCs and my boss told me that the margins on PCs are so small that they don't make any money selling them. I was told to really push the extended warranties because the store made a huge profit on them. And I wonder how many people who buy extended warranties realize that most extended warranties only cover manufacturer defects. I did purchase extended warranties for the Dell laptops I bought my daughters when they went to college. I bought warranties that specifically cover accidental damage in addition to maufacturer defects. I only got the warranties because my daughters are klutzes (take after their mother).


Some manufacturers are very good about covering warranty claims, even after the warranty has expired. I believe Sony is one such company. Were they possibly the ones who honored your warranties from the closed-up stores?
 

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Reward points and extended warranties are two different things. The warranties aren't held by CC (probably). They come from a third party company. Your contract for warranty service is with that company. CC can go out of business or go to the moon and it won't affect the warranty because the warranty is with XYZ company, not CC. Now, if XYZ company goes out of business, you've got a problem, but that's a different issue.


With CC points, though, I don't think they're legally obligated to honor them. Spend 'em now or lose 'em forever.
 

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Quote:
Originally Posted by Solo4114 /forum/post/15550746


The warranties aren't held by CC (probably).

That's what I'd bet.............ironically Best Buy warranties are through AIG
 

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I used to work for CC, and I can tell you for sure that the warranties ARE NOT OWNED by CC. They are all handled by third party companies, you just wont be able to bring your product into a CC store anymore to get serviced if they go belly up, but to be honest your probably better off. As far as the credit cards go, you are also safe on that front, Chase Bank handles the credit NOT CC. Also, I wouldnt expect to get any amazing deals from the store as far as liquidation, I know when they closed a bunch of their stores a few months back all the inventory was handled by again third party companies, You couldnt just go into that store and get a 50" tv for $100, it doesnt really work like that.
 

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Quote:
Originally Posted by Bailey151 /forum/post/15550967


That's what I'd bet.............ironically Best Buy warranties are through AIG

Which, like I said, presents a different problem entirely.



I also don't expect to see any major deals from CC at this point. They're clearing out their slop bins and that's about it. The one interesting thign that could happen from this is people who want to buy for the digital switchover getting a "fire sale" price on a low-end TV -- which effectively removes them from the market and forces the other retailers to compete for what's left. No idea if that'll happen, though.
 
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