Buying Tech & Gadgets in a Recession

Posted on Thursday, Apr 23 2009 @ 05:30 CEST by Thomas De Maesschalck
In November of 2008, Circuit City, just a few years earlier one of the top dogs in the entire retail landscape, filed for Chapter 11 bankruptcy protection and closed 155 of its 722 stores in a desperate, last-ditch bid to remain afloat. Facing heightened competition, pressure from vendors, a severely troubled economy, and, some say, problematic management that refused to adapt to the times, the company did what it could in the following few months to stave off eradication. But despite its best efforts, Circuit City permanently closed its remaining 567 retail outlets on March 8, 2009, sending a total of 34,000 former employees into the jobless ranks.

Read more at DigitalTrends.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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