Circuit City Closing its Doors

January 17, 2009 12:00:00 AM PST
House cleaning started Saturday at the country's second largest electronics retailer.All day Saturday shoppers swarmed the Circui City store in Fresno. They were taking advantage of sales anywhere between 10 and 30 percent off select items.

While they're saving money, the city and surrounding businesses are trying to figure out how to keep it coming in.

Circuit City customers spent Saturday waiting in line hoping to save some money before the retail chain closes for good.

"Mostly people were buying CD's and all that cause they're only ten dollars. Other than that, there's not much discounts," said shopper Aaron Sanchez.

Circuit City is the largest retailer to be uprooted by the widening financial crisis. It joins a long list of struggling companies, including Mervyn's and Gottschalks.

Economist Henry Nishimoto said wherever stores fail, surrounding areas are hardest hit. "The city is a beneficiary of the sales revenues that take place in a store like this. Losing it of course, they lose that tax revenue."

Another concern, said Nishimoto, is how Circuit City's closure will affect other businesses. If I was the other stores in this mall, I would be worried because of the loss of foot traffic that they're going to experience.

Kiet Quach is no doubt worried. That's because his nail salon is right next door to circuit city. "Right now because a lot of customers come into Circuit City because they close, so we have more customers coming in. But, I don't know in the future, if they close down, our business go down too."

Fortunately, there are loyal customers like rose Haygood who discovered Nice Nails and Spa after shopping at Circuit City. "Regardless of circuit city, I'll be coming

Circuit City will remain open until the end of March or until all of their merchandise is gone. No word yet what business, if any will take the retailer's place.

If you do plan on making any purchases at Circuit City, keep in mind, all sales are final and they are no longer accepting checks or circuit city credit cards.

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