Circuit City edges closer to the end

All of Circuit City's stores will close for good by Sunday 8 March 2009. "Consumers reacted to the top-quality product that they had, and the prices we were able to sell it at, and we're basically running out of inventory a week early," said Scott Carpenter, Vice President for Great American, which has been managing Circuit City's going-out-of-business sales. Great American is among four liquidators including SB Capital, Tiger Capital and Hudson Capital that have been working since January to sell off Circuit City's remaining USD1.7 billion worth of inventory at reduced prices. Almost all of it has sold, and nothing will remain when the stores close, Carpenter said.

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