Retailer Circuit City has not been doing too well recently. Sales are off and they are having to close a number of their stores:
From Reuters:
Circuit City to Close 19 Stores
Circuit City Stores Inc. on Wednesday said it would close 19 superstores, five regional offices and a distribution center by the end of the month, a day after the struggling electronics retailer received a $3.25 billion takeover offer.
The company, which on Tuesday said it had received an unsolicited buyout offer from private investment firm Highfields Capital Management LP, has been has losing market share to bigger rival Best Buy Co. for several years and has been trying to improve its distribution system and revamp its stores.
And now this happens today -- from Reuters again:
Circuit City Registered Plane Crashes, 7 Dead - FAA
A twin-engine jet registered to retailer Circuit City crashed on Wednesday three miles short of the Pueblo, Colorado, airport, killing seven, a Federal Aviation Administration spokesman said.
No word yet on who was on board. Circuit City did announce that no officers were on the plane but still, taking out seven of your top people is not going to be good for the company. They are loosing market share to Best Buy which I do not like as Best Buy has really poor customer service and their prices are not good. Some earlier thoughts on Best Buy and their marketing practices here.
