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Circuit City Sales Reach $1 Billion in Merchandise

More than $1 billion of Circuit City’s total $1.7 billion in inventory has been sold since liquidation sales began in January, the firm managing the going-out-of-business sales nationwide said. Beginning Feb. 19, greater discounts will be offered on selected items. The sales are expected to continue through the next three to four weeks or until all items have been sold. Thus far, more than 272,700 flat screen TVs have been sold over the past month, in addition to more than 53,800 home theater systems, 266,600 digital cameras, 79,100 notebook computers, 38,700 desktop computers, 143,900 computer printers, 62,300 camcorders, 92,700 GPS devices and 88,100 car audio speakers. Moreover, more than six million DVDs and CDs have been sold since liquidation sales started. “We are very pleased that these sales have attracted such large numbers of shoppers, and urge those who may still be considering a purchase to come into the stores early for the best selection,” stated Scott Carpenter, executive vice president, director of operations, for Great American Group in Woodland Hills. “Circuit City’s nine distribution centers have been emptied out, so the merchandise that’s in the stores now is all that remains.” Great American has overseen all sales activity as part of a joint venture group with SB Capital Group LLC, Tiger Capital Group LLC and Hudson Capital Partners. According to the liquidators, the Circuit City liquidation is the largest yet of any major national consumer electronics firm. Nadra Kareem

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