Your worst suspicions have been confirmed, the liquidator that ran the notoriously awful CompUSA liquidation (they actually raised prices, click here to see a photo) is conducting the liquidation of 155 Circuit City stores.
Liquidation sales on $300 million worth of inventory that began yesterday at 154 Circuit City stores are being conducted by Hilco Merchant Resources and Gordon Brothers Retail Partners, a government filing shows.
An additional store will be closed by Circuit City on its own.
According to an 8-K filing by Circuit City with the United States Securities and Exchange Commission (SEC) dated Oct. 31, the retailer will be paid a guaranteed amount equal to 72 percent of the cost value of the merchandise included in the sales.
The liquidators, which formed a joint venture, will receive an agent’s fee equal to 3.5 percent of the cost value of the merchandise.
The stores are accepting cash and credit cards, but not selling gift cards or accepting checks.
Send your first hand accounts of the Circuit City liquidation to firstname.lastname@example.org and/or upload your photos to our flickr group.
Hilco, Gordon Bros. Handling Circuit City Fire Sales [TWICE] (Thanks, Klay!)