Circuit City's bankruptcy is beneficial – but not that beneficial

Alan L. Wurtzel, CEO of Circuit City, announced on Friday, Jan. 16 that the beloved second largest electronics retailer would be closing its remaining stores and liquidating its inventories.

Circuit City is the largest business to fall victim to the slow economy, leaving Best Buy as the largest electronics retailer with an incredible lead over any other chain.

The liquidation process has created sales up to 30 percent with a minimum 10 percent on every item in the store. This seems like an excellent time to catch a great deal, but the savings are barely enough to wipe out Tennessee’s sales tax.

Despite this, video games, movies and music albums that are normally the same price no matter where you shop will be marked down enough to make it worth driving a couple miles past Wal-Mart.

Cleveland’s Circuit City’s inventory has steadily depleted itself and is running out of items all together. The store still has most of its original items available, although some laptop models and several video game titles are sold out completely.

The Web site has already been taken offline, and most discounts have been marked as final, but if you have a purchase that you were planning on making regardless, shopping at Circuit City could save you a few dollars. Despite the minimum 10 percent discount, don’t change any of your long term financial plans to accommodate Circuit City’s sale.