RIP: Circuit City

Well, the two “highly motivated and interested parties” failed to materialize, and on Friday, the court authorized liquidation of the Circuit City assets. The sales started on Saturday, and according to some reports, business was brisk. There still may be opportunities for bargains, however, as the discounts will increase between now and the end of March when the liquidation sales are to be completed. The sales are being conducted by Hudson Capital Partners, SB Capital Group and Tiger Capital Group, which also ran the sales at Tweeter when that chain closed.

We now know just how dismal the holiday sales season was for consumer electronics retailers, and it’s no surprise that Circuit City was not able to survive. The next question is how bad is it for the remaining retailers, and who might be next to close their doors before the big ball drops again in Times Square? With sales of digital TV converter boxes possibly ending in February, I’d have to put Radio Shack on the watch list as it may have a struggle to find another source of sales.