Tag - Circuit City
Systemax on Friday announced it has finished its acquisition of online electronics retailer Circuit City following its bankruptcy and launched a revised Circuit City website. Systemax has also aquired CompUSA last year and oversees online retailer TigerDirect. The new Circuit City site has 24/7 customer service, advanced search functions and photo and video galleries of the products it carries.
PC builder and retailer Systemax may revive the Circuit City name through a deal, a court filing shows (PDF). Already the owner of TigerDirect and recently CompUSA stores, the company is in the running for bids on Circuit City's name before May 11th and would pay as much as $6.5 million to acquire both the brand name itself and the rights to run the Circuit City website. It's not known which other companies are in the running or how likely they are to win a bid.
Following its bankruptcy and sale to Systemax, CompUSA has quietly been reopening new stores with a very different policy on Internet access. In a talk with Wired, Systemax's Technology Products chief Gilbert Fiorentino has confirmed both that there are now 30 new CompUSA stores but that the new shops have a largely open Internet policy that puts every computer in the store on an Internet connection. Shoppers are reportedly encouraged to use demo units to check prices and reviews, and are unrestricted from ordinary tasks like checking Facebook.
Electronics chain store Circuit City announced on Thursday it will permanently shut down all 567 of its stores across the country as of Sunday, March 8th, earlier than previously announced due to the record-high shopper turnouts for going-out-of-business sales. Some locations have already closed due to sold-out stock, as shoppers cleaned out store shelves since the sales began on January 17th in an attempt to liquidate $1.7 billion in inventory.
The collapse of Circuit City in the US may not only cast doubt on the future of its Canadian retail chain The Source but could shift many stores towards Best Buy. Circuit City's Canadian subsidiary InterTAN says all 765 The Source stores are being put up for auction this week and that buyers could pick up some or all of the stores for their own purposes. Proposals from buyers are due as early as Friday and could result in a decision shortly afterwards.
Circuit City today revealed that it has decided to liquidate all its assets and effectively shut down the company. The retailer says the move comes after it was unable to strike a deal with its creditors and other moneylenders to fund the company's business following its move for Chapter 11 bankruptcy in November, which gave it an opportunity to reorganize its business. It also warns that there is unlikely to be enough money left from selling its stores and other resources to pay equity holders.
Circuit City on Friday morning made public that it's currently in talks with an unnamed company to potentially sell off its assets following its bankruptcy. The retailer declines to provide any more details than required by a hearing pushing the details into the open but confirms that two "highly motivated" companies are discussing the possibility of deals that would either give the company enough money to continue on and restructure itself or else to effectively buy out the resources of the entire store chain.
Retailer Office Depot today said it will close 126 of its North American stores in a bid to remain healthy. The company plans to make 112 closures of these within the next three months and the remainder throughout the rest of 2009 as their leases come to a close. New store openings will also be cut in half to 20 next year. The move, which drops about 10.8 percent of the company's total stores, will have a total cost of between $270 million to $300 million for Office Depot but should save about $75 million in day-to-day expenses throughout 2009 while also boosting earnings from $70 million to $90 million.
NextWorth has expanded its iPod and iPhone trade-in program to include Amazon.com and Circuit City. Customers can trade their devices at select Circuit City retail locations, receiving a store gift card for the trade-in value as determined by a store employee. Alternatively, devices can be shipped to NextWorth for inspection and valuation. The company claims that e-gift cards will be sent to customers within 24 hours of the inspection.
Circuit City on Monday filed for Chapter 11 bankruptcy in a last-stage bid to remain in business. The move follows an already drastic step to shutter 155 stores and requires the retailer to reorganize the company and its finances to more readily pay back debts to its creditors, which include Samsung, Sony and other companies whose products are sold through the chain.
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Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE