Over $1 Billion In Circuit City Inventory Sold
Last month, Circuit City announced it would liquidating its remaining US stores, with sales kicking off on January 17th. Liquidators today announced that over $1 billion (from a total of $1.7bn) in inventory has been sold off since the sales started. Due to impressive shopper turnout, many stores are ahead on their closing schedules. Scott Carpenter, executive vice president and director of operations for Great American Group (who have been overseeing sales as part of a joint venture) said:
We are very pleased that these sales have attracted such large numbers of shoppers, and urge those who may still be considering a purchase to come into the stores early for the best selection. Circuit City's nine distribution centers have been emptied out, so the merchandise that's in the stores now is all that remains.
Some of the inventory sold off in the past month includes 272,700 flat screen TVs, 79,100 notebook computers and 266,600 digital cameras. You can expect further discounts to be introduced until all inventory has been depleted.