Tighten Credit, tough time further
Written on November 12, 2008 – 12:24 AM | by dodolovesme
Britain has a pretty tough day. Things went a lot worse across the Atlantic. Circuit City (the biggest US electronics retailer) has filed for bankruptcy protection. The largest electronic retailer in the US is set to file so far in economic turmoil. Circuit City owns around 40,000 staff and 700 stores. 175 of stores will be shut and 6800 employees will loss their jobs in incoming months. The short of credit puts the retailing industry in a big hole.
It makes up the sense that American pay 75% shopping in Circuit City by credit. The difficulty of borrowing from credit left shoppers behind with home loans.
That is not the first case of big retailing company failing. DHL parcel delivery company is closed their inside US delivery service. They already kicked out 9,500 their loyal employees. Companies have no choice to cutbacks.
Best Buy (the biggest competitor of Circuit City) might see the increased market for its business;
FedEx and UP maybe also happy. Reconsidering the economy, the loss of shoppers and business, who will stand the last?
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Tags: america, american, business, circuit, circuit city, city, credit, economy, home, shopping
6 Responses to “Tighten Credit, tough time further”
By Abang Long on Nov 12, 2008 | Reply
More and more companies are asking for help to avoid bankruptcy. It’s really worrying me. As a bank staff, I wonder whether my bank would be able to sustain the pressure.
By Unwanted Credit Card Offers on Dec 14, 2009 | Reply
That means we use our expertise to Set and automatically renew fraud alerts with the major credit bureaus, approved credit card offers, and remove each individual in your organization from junk mail lists. … Unwanted Credit Card Offers
By Online Credit Card Purchases on Dec 16, 2009 | Reply
Can I use Hamper Block’ s online tax preparation products and my registered credit or debit card and still earn college savings 4. … Online Credit Card Purchases
By Point of Sale on Dec 16, 2009 | Reply
And you can use a ” remote” PC, like your office PC, to check your home via the Internet. … Point of Sale
By Trade Account on Dec 16, 2009 | Reply
Just pay with a credit or debit card that is registered in your Promise account and your college savings will be automatically posted to your Promise account. … Trade Account
By Credit Bank Account on Dec 17, 2009 | Reply
First North American National Bank is established to operate Circuit City’ label credit card program. … Credit Bank Account