Circuit City Going BankruptCircuit City,one of the biggest electronic stores in America, filed for bankruptcy this week. The reasons being the cut-throat competition,zero influx of customers and pressure from it's vendors.
Circuit City will open till Sale this upcoming holiday season but before that it has announced that it'll cut off more than 700 jobs and laying off thousands of employees.
Once I stopped by Circuit City here in Santa Cruz, and checked some of their gadgets. It was way higher than on Internet. Though, Santa Cruz is notorious for expensive stuff and living, at least I had thought it wouldn't be the case with electronic stuffs. I just did window shopping and ordered things from online at lot cheaper price. I was wondering how these companies are sustaining, then I made second thought, may be consumer are so naive.
I obviously blame this for the bad economy. People are almost unwilling to spend a penny on fancy stuffs than necessity in this worst economy condition.
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