Circuit City to be resurrected this summer

Brittany A. Roston - Jan 27, 2016, 7:00 pm CST
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Circuit City to be resurrected this summer

There’s a good chance, assuming you live in the US, that you don’t have to drive far to find a long-abandoned Circuit City sitting unloved and unwanted. In late 2008 as the economy heaved, Circuit City announced layoffs and plans to close many dozens of stores. That was the writing on the wall, as by early 2009 it had decided the remaining U.S. stores would be shuttering for good. Though the world is no more hospitable thanks to things like Amazon, Circuit City is coming back.

Circuit City was a store not unlike Best Buy known for its iconic red store fronts and variety of techy devices. While Best Buy has so far been able to stay above water, Circuit City has been less fortunate. That won’t stop Albert Liniado and Ronny Shmoel, the latest to acquire the Circuit City brand and trademarks, from trying to bring it back.

Such information comes from Twice, which says the aforementioned due acquired the assets from Systemax, an IT supplier which bought the brand and related business elements during the bankruptcy auction. Systemax had tried to bring back Circuit City as a sister site to TigerDirect, but that failed, too.

The world is a far different place than it was in 2008, of course, and so this third effort will have an uphill battle to confront. Consumers have largely gravitated toward online retailers like Amazon; they’re often cheaper than their brick-and-mortar counterparts, and have the convenience of item shipments directly to one’s door.

For this upcoming iteration of the brand, the duo — operating under Circuit City Corp — are reportedly planning to hit all angles of the retail game: kiosks, retail stores, online sales, mobile shops, franchising, private and brand labelled products, and more. The first Circuit City store, as well as the website, will launch this upcoming June.

SOURCE: Twice


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