- Cafe Hayek - https://cafehayek.com -

The World's Smallest Violin

Tweet [1]

Life is tough, isn't it? Circuit City goes broke, a lot of people are out of work, and some people are complaining that the liquidation prices on the Circuit City stuff aren't low enough [2]. (HT:  Mark Anderson):

The news that all merchandise would be discounted 10% to 30% drew
throngs of customers to stores across the nation over the three-day
weekend. But many shoppers left angry and empty-handed.

"What happened to 30%? Lies!" shouted customer Gabriel Ifrah, 52, at
the Circuit City on La Cienega Boulevard in Los Angeles on Monday,
where most items were priced at 10% off…

At Circuit City stores Monday, most big-ticket items were marked down
only 10%, including digital cameras, large flat-screen televisions,
printers and cordless phones. Less pricey items, such as wiring, video
games and video game accessories, were priced at 20% or 30% off.

"You have to start somewhere, and we have commitments to a lot of
people — banks, creditors — who are expecting a certain amount of
return, so it's not like we can go out there and go to the deepest
discounts right off the bat," said Billy Nichols, senior vice president
and director of merchandising at Great American Group, one of four
liquidators involved in Circuit City's closeout. "This is a big
financial risk for a lot of companies. We have to be economical on our
discounts."

Comments