The Failure of Circuit City Stores - Research Paper Example

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The study is about analyzing a particular article and revealing the information collected from it. In the context of this study, initially, several articles will be chosen which emphasize different issues of Circuit City Stores. …
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The Failure of Circuit City Stores
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Download file to see previous pages The articles will be chosen from business journals or from some databases. Among the chosen journal, one with the most valuable information that reflects organization’s core business values and corporate culture will be selected to conduct the study. Through this report, the outlook of the author of some article will be presented and critical discussion about the same topic will be carried out. Finally the learning outcomes from the study and article will be illustrated. The company chosen to conduct the study is Circuit city Stores Inc. Before getting into any critical discussion about the area of study, a brief over view of the chosen company will be presented in the next section. Circuit City Stores: A Brief Overview Circuit city Stores Inc. was an US based retailer which was founded in the year 1949. The company used to sell branded products in the category of entertainment software, consumer electronics, personal computers, and also large appliances. It was headquartered at Richmond, Virginia, USA. However in the year 2009 the company was closed due to bankruptcy and failure to grab any customer (Wallace, Gifford & Dougias, 2004). During the time of its liquidation, the company was the second biggest consumer electronics retailer just after Best Buy. Throughout its lifespan the company had 567 Circuit City superstores nationwide. Initially 155 stores were closed during the time when it filed bankruptcy in 2008. Finally in the year 2009, lack of consumer demand and economic downturn has forced Circuit City Stores to completely shut down its operation (McCrorey, 2012). The company placed the headquarters for sale in the year 2010 and ultimately it was purchased by a New York-based Lexington Property Trust at a staggering $17 million. After its liquidation Systemax is the present owner of Circuit City Store. Systemax acquired the brand name, e-commerce business and trademark at a public sale or an auction which was held at the Circuit City Stores. Systemax now uses the brand name of Circuit City as in order to sell consumer electronic online (Circuitcity, 2012). It has now become an online store and operates as circuitcity.com. The new online store sells various electronic products such as computer parts and accessories, camera, surveillance devices, audio, GPS devices, cell phones, software, toys and video games, and home & office essentials among others. Presently the company competes with Target Corporation, Walmart, Boater’s world and Best Buy among others (Plunkett, 2006). Selected Articles The articles which have been shortlisted for the purpose of the study are presented below in a tabular form. Name of the Article Author(s) The rise and fall of Circuit City Amy Hart, Erika Matulich, Kimberly Rubinsak, Kasey Sheffer Nikol Vann and Myriam Vidalon. Circuit City Gearing Up For Holidays Alan Wolf Circuit City to Close 69 Stores Erik Gruenwedel Circuit City Curbs Expansion, may Close Stores ALAN WOLF Why Circuit City Busted, While Best Buy Boomed Anita Hamilton Circuit City: A Brief History in Time Alan Wolf Closed Circuit Erik Gruenwedel Liquidation Of Circuit Enters Its Final Phase Alan Wolf All the articles provide some amount of information regarding Circuit City Store and how it gradually went down or rather was forced to put down the lid. According to the requirements, one article has to be chosen for the purpose of this study. Therefore, from the aforementioned journal articles, the one which has been chosen to perform the study is the rise and fall of Circuit City by Amy Hart, Erika Matulich, Kimberly Rubinsak, Kasey Sheffer Nikol Vann and Myriam Vidalon. The primary reason for choosing this article is the clarity of the article. This article clearly describes how the company went bankrupt in 2009 and what the ...Download file to see next pagesRead More
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