Bankruptcy: Should You Buy From Circu...

Bankruptcy: Should You Buy From Circuit City, Tweeter?

There are 13 comments on the Hartford Courant story from Nov 18, 2008, titled Bankruptcy: Should You Buy From Circuit City, Tweeter?. In it, Hartford Courant reports that:

What you need to know about the bankruptcies of Circuit City and Tweeter and the "business alliance" between Panasonic and Sanyo.

Join the discussion below, or Read more at Hartford Courant.

Hank

Hartford, CT

#1 Nov 19, 2008
If you are going to buy something from a company who has delcared bankruptcy, you might as well buy from some guy on a street corner who selling 'hot' items out of the trunk of his car. How stupid can consumers be? Just watch as these fools buy 'great deals' from stores who are closing and then have no where to turn when the product fails before its warranty runs out. I think I'll go into the crying towel business for all of these sad fools.
JoeP

United States

#2 Nov 19, 2008
Buyer beware!!!! I put $2,500 down money for tweeter to install a TV before this bankruptcy. I paid via check on 10/18. To date, they wont refund my money, and I dont even have a piece of merchandise to show for it. I basically contributed to the bankruptcy fund. They are able to keep the doors open and sell TVs while I sit here over the holidays without my 2500.00 in my pocket. This is highway robbery. The employees are not to blame as they have all been helpful, but the whole thing just stinks. BE CAREFUL! Dont get screwed like I just did.
Wow

Naugatuck, CT

#3 Nov 19, 2008
Who pays in check anymore? Use a credit card and your protected with a buyer protection plan. Your probably the person who uses a check at the grocery store and holds up the line for an extra 10 minutes because your old and won't get a debit card!!!!!!!!!!
barney

Tallahassee, FL

#4 Nov 19, 2008
just went to cc last week. no deals there walmart still has them skint...
Yougottabekiddin g

United States

#5 Nov 19, 2008
Circuit City lost my business forever , the day they laid off all those employees making $14.00 an hour and immediately filled all those positions at $9.00 an hour .

I swore I'd never spend another dime at Circuit City after that.
Be careful

Morrisville, NC

#6 Nov 19, 2008
I purchased an extended warranty from Tweeter last month (before the bankruptcy) only to find out that Tweeter had not been filling the policies. If you bought a warranty, you might want to check to see if you really have one. I did not.

Since: Jul 08

Portland

#7 Nov 19, 2008
Yougottabekidding wrote:
Circuit City lost my business forever , the day they laid off all those employees making $14.00 an hour and immediately filled all those positions at $9.00 an hour .
I swore I'd never spend another dime at Circuit City after that.
14$ an hour for a floor salesman...do they really have 30k worth of skills?
gr8mood

Philadelphia, PA

#8 Nov 29, 2008
You can dispute this with your credit card company. I just bought a 40in flat screen, one week before they announced the bankruptcy. I am getting a refund for my $129.99 warranty. You need to write a letter and act fast.
Be careful wrote:
I purchased an extended warranty from Tweeter last month (before the bankruptcy) only to find out that Tweeter had not been filling the policies. If you bought a warranty, you might want to check to see if you really have one. I did not.
Joe P

United States

#9 Dec 19, 2008
I assure you I am not the person who holds up the grocery line, so before you go saying stupid things, please think. Your guess that I am old is also stupid and wrong. In fact, I am the guy who helps bag the groceries to keep things moving because no one wants to pay baggers anymore. I paid by check to Tweeter because I was lucky enough to have the cash that we saved up over the past few months. I hate credit cards. Yes, in retrospect, it would have been great to use one, but I typically dont go charging 7,000 TV systems on credit cards. Maybe you are the one to blame for this horrible economy because you use your credit card everywhere and dont have enough cash to pay it back. Stop making stupid accusations when you know NOTHING!
Wow wrote:
Who pays in check anymore? Use a credit card and your protected with a buyer protection plan. Your probably the person who uses a check at the grocery store and holds up the line for an extra 10 minutes because your old and won't get a debit card!!!!!!!!!!
Irritated

Minneapolis, MN

#10 Jan 25, 2009
so you're saying you're too important/busy to wait in line at the grocery store while someone writes out a check? yes, a debit card is convenient. does it save more than a few minutes per transaction? nope. since you can't wait another minute, why don't you order everything online and have it delivered to that rock you live under? evidently you aren't social/tolerant enough to mingle with the general population anyway.
Joe P

Jenkintown, PA

#11 Feb 6, 2009
Tweeter has stolen 2,500.00 in deposit money from me and many other people. From what I am seeing, it appears there is about $3 million+ in deposits that were confiscated by Tweeter during the bankruptcy. George Schultze is the recognized owner of Tweeter, and the decision maker, even though he hides under the corporate veil of Tweeter. Mr. Schultze appears to have not only stolen customer deposits that were to be used towards purchases, or installations, but he also turned around and sold this merchandise to essentially double dip his customers. Conveniently enough, the day before he filed for bankruptcy, he paid Wells Fargo about 3 million dollars. I wonder where the broke Tweeter got this money from?? Thats right, its from me, and the other people he ripped off. I would be willing to bet that he had a timed agreement with Wells Fargo and planned on skimming this money from day one to pay his debts with Wells. Conveniently, he did not have enough "time" to cut a refund check back to me, and the other unwitting consumers who got screwed. In any case, there is more evidence out there that this is not a nice guy to do business with. He settled out of court with the SEC and paid a penalty for setting up shell companies to line his pockets. He runs hedge funds, and is a slick bankruptcy lawyer who knows how to manipulate the system. In this case, he manipulated me and the other average joes out there. He also was told by his warranty provider to stop selling warranties in August of 2008. He continued to sell these warranties to unwitting consumers but never paid for them. This is more money that went to line his bankruptcy coffers. Its all right there in the newspapers and anyone should be able to put two and two together. The CT attorney general has suggested fraud, but it appears no one is pushing this any further. I am willing to push it further. If anyone is interested in starting a class action against this guy to pierce the corporate veil, please email me at [email protected] I already sued Mr. Schultze and had a judge who was floored by the situation. He was stuck because piercing the corporate veil entails much more than he could do on a district court level....lets take this up the ladder and get this guy!
Mike

Tiverton, RI

#12 Dec 27, 2009
Chris1982 wrote:
<quoted text>
14$ an hour for a floor salesman...do they really have 30k worth of skills?
Wow Chris $30K is a ton of money huh.Its well below poverty level. Keep in mind Circuit City at one point had billions of dollars in profits, with this same payscale. Poor management caused it to go bankrupt, and the first thing Circuit City management did when they started to lose money was blame the little guys who helped to make that company successful over those years. Shame on those overpaid salesmen. Ohh your a fag by the way, and the fact that you think $14/hr is a large sum of money in contrast to what things cost is hilarious. And no I have never worked for Circuit City, just felt the need to point out your ignorance.

Since: Jul 08

Portland

#13 Dec 30, 2009
Mike wrote:
<quoted text> Wow Chris $30K is a ton of money huh.Its well below poverty level. Keep in mind Circuit City at one point had billions of dollars in profits, with this same payscale. Poor management caused it to go bankrupt, and the first thing Circuit City management did when they started to lose money was blame the little guys who helped to make that company successful over those years. Shame on those overpaid salesmen. Ohh your a fag by the way, and the fact that you think $14/hr is a large sum of money in contrast to what things cost is hilarious. And no I have never worked for Circuit City, just felt the need to point out your ignorance.
Wow resorting to name calling...youre mature. circuit city once had billions but due to mismanagement now they have nothing, who cares if they fired people at 14 dollars an hour to hire cheaper labor, if they needed to cut costs thats the easiest way to do it. 14$ an hour may not be a huge sum of money but im barely making that with a college degree in my field so 14$ an hour in this economy to be a salesman is a little much, put them on min wage and commision and make them earn the pay they get and see just how good these salesman are.

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