"Deeper Discounts" Coming at Circuit City
After the early weeks of Circuit City's liquidation sales have led to customer complaints and negative media reports questioning exactly how large the discounts are, one of the liquidation companies handling the sales have announced more significant price cuts.
Great American Group announced Wednesday that it will now slash prices of plasma TVs by 25 percent off original prices, with LCD prices now 20 percent off. In addition, car audio components will be slashed 40 percent. Until now, the sales had advertised that products were on sale by 10 to 30 percent, although most big-ticket items were closer to the 10 percent number.
Great American's CEO said in a statement that because $450 million of the $1.7 billion in inventory has already been sold, the clearance sales will likely only last another four or five weeks.