Dear Circuit City,
I've never been to any of your U.S. stores, so I can't really comment on why you're facing bankruptcy right now. But I have been to The Source, your Canadian outlets that used to be Radio Shacks, and it doesn't surprise me that your Canadian subsidiary is also filing for bankruptcy protection.
I realize it's convenient to blame this on the economic downturn, but may I offer some other suggestions:
- You took a recognized (if imperfect) brand and replaced it with one that nobody gets or relates to.
- You changed from an electronic component store to a home electronics store, trying to compete against a behemoth you had no chance against
- Instead of innovating, you copied their ideas without improving on them
- Your big-ticket items are more expensive than identical ones at Best Buy and Future Shop, and you have much less selection
- Your stores are tiny, a problem you have only recently been trying to fix
- You sell cheap plastic junk that doesn't work and that nobody wants
- You fired specialists and replaced them with minimum-wage morons, a plan which quickly backfired (*cough*)
- You have no morals, which has gotten you in court several times against customers and your own employees
And yet, shockingly, you're in the hole. I guess that means this job you just posted in TMR isn't getting filled...