Circuit City

Circuit City the No.2 electronics retailer in the country has asked for court approval to close its remaining 567 US stores and sell all of its remaining electronics including desktop and laptop repairs. Their remaining electronics merchandise has a variation of brands including Dell, HP, Gateway, Sony, Acer, Toshiba, Emachines, Compaq and many brands more. Circuit City's acting CEO James Marcum said in a statement today

that they were unable to reach an agreement with their creditors and lenders,as a result they have already reached agreements with four companies to start the liquidation process. Circuit City has said that its liquidation sale would begin Saturday, January 17 and will run until March 31. Circuit City's web site will cease to operate after January 18. The electronics retailer giant will inform its employees of their termination 60 days prior to the termination date. Circuit city will however continue to operate its Canadian retail stores. George Whalin CEO of retail management consultants stated that there exist a slim possibility of Circuit City being bought out of bankruptcy by one or more firms that have expressed their interest in doing so. Love Goel CEO of Growth Ventures Group speculates that the Electronics giant might still be able to find a lifeline if Golden Gate Capital decides to buy them out of bankruptcy and restructure them primarily as an online business with very limited physical stores. If Circuit City was to be to be turned into an online business it would still have a chance of survival. Circuit City has an almost 1billion online business. Most of the products sold online by Circuit City consist of computers, desktops, laptops and other popular electronics. Retail analyst Marshal Cohen warns that no retailer is immune to the economic crisis and for that reason companies need to have a service model that is different from the rest of the competition and

satisfies consumer needs. Circuit City found itself in an unfortunate position due primarily to its competitors and the financial crisis. Wal-Mart aggressively

entered the electronics market with lower prices than those that Circuit City offered. Wal-Mart would sell its electronics for prices much lower than those that Circuit City offered, customers would find desktops and laptops being sold by up to $150 difference between the two retailers.Best Buy on the other hand kept widening the gap with its competitors

and continued to dominate as the industry leader. Best Buy has been able to

maintain its lead as the industry leader primarily because of itscomputer sales and customer service. Best Buy sells Desktops and Laptops combined with their computer service agreements. Best Buy's Geek Squad Computer repair has been of great influence to their customer satisfaction. With the purchase of Computers Best Buy offers their Geek Squad service agreements Which basically cover all computer hardware and software issues, their accidental warranty also covers all damages that a machine may suffer this Includes broken LCD screens, damaged keyboards, bad motherboards,

bad inverters, bad power jacks, and many more computer parts. Best Buy also offers very good customer service when it comes to computer software; issues such as virus and spyware removal from personal computers. Customer satisfaction is a key factor when it comes to retaining customers. Best Buy offers computer services in various location some of those locations include; Alexandria, Washington DC, Bethesda, Fairfax, Arlington, Tyson’s Corner and Springfield.