Systemax Circuit City site
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.
Systemax May Get C City
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.
Circuit City Bankruptcy
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.
Circuit City Closes 155
Circuit City today confirmed a drastic step to save its retail business and says it will shutter 155 of its stores across the US as well as renegotiate its store licenses and curb its launches for new stores. The move leaves 566 stores and is said to target those locations that were unprofitable, particularly after marketing was involved. The shutdown takes effect quickly and will see closeout sales as early as November 5th.
Japan Pulls HD DVD
Not willing to wait until the official shutdown of production in March, Japanese retail shops are already pulling all their HD DVD drives and movies off of shelves, according to reports. Although less than a week after Toshiba's withdrawal of the HD DVD standard, several high-profile shops such as Edion and Yodobashi Camera have already halted selling either the players or the movies. Most are reportedly in discussions with Toshiba to send back unsold players and, in the case of Edion, are planning exchange programs where customers can potentially receive a Blu-ray player as a free or low-cost exchange for a now-obsolete HD DVD player.
Reviews, CompUSA, Zannel
In brief: A CompUSA in Lexington, Kentucky is discounting its entire stock of Apple merchandise, Zannel has optimized its web-based multimedia sharing site for the iPhone, and MacNN has posted reviews of a website creation app called Shutterbug, and the leather Cobra iPod CoverCase. CompUSA is offering discounts of 5-percent on Apple desktops, laptops, and iPods, 10-percent off of Apple Cinema Displays, 15-percent on Apple software, and a 20-percent discount on Apple accessories. While CompUSA is currently having a sale on its website, it is unclear if this is the same offer, or if this is being offered outside of Lexington.
CompUSA bought out
Troubled electronics retailer CompUSA today said it has been sold to investment firm Gordon Brothers Group, ending a significant component of the company's business. The plan will see CompUSA sell off some of its physical stores as well as its company website and its TechPro technical support service. The 103 stores that have remained since the company's previous round of closures will remain open until the end of the holiday season. Key Gordon Brothers Group principal Bill Weinstein will take over from current CompUSA headman Roman Ross as part of the deal.