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'The Source' stores go up for auction

22 January 2009 21:23 by Andre "DVDBack23" Yoskowitz | 6 comments

Following the bankruptcy and liquidation of the large US retailer Circuit City, its Canadian counterpart The Source is going up for auction, and could be purchased by Best Buy.

There are currently 765 The Source stores and each is going up for auction.

There has not been an official list of potential buyers released, but the stores should be sold by Monday.

If Best Buy were to purchase any of the stores, it would be most of the smaller sized stores which can then be turned into Best Buy Mobile stores which specialize in mobile phones.

Permalink to this article | Topic: Gadgets

Circuit City drops prices again (1 February 2009)

Circuit City begins liquidation (17 January 2009)

Circuit City sales have plummeted since bankruptcy filing (24 December 2008)

Circuit City filed for chapter 11 protection (12 November 2008)

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thebox (Junior Member) 22 January 2009 22:24
For me, this is a joyous occasion. I never liked The Source as it is way over priced on almost everything and sells high-scaled DollarStore merchandise. Much like Radio Shack before it was bought out. I pray that Best Buy buys because it would mean a Best Buy in my home town. So hopefully, Best Buyesque merchandise is sold and not just a name change to the store(s) and a continuation to sell crap. [ + quote]
canuckerz (Senior Member) 22 January 2009 22:58
*Originally posted by thebox:* For me, this is a joyous occasion. I never liked The Source as it is way over priced on almost everything and sells high-scaled DollarStore merchandise. Much like Radio Shack before it was bought out. That and as soon as you walk in you feel this massive pressure from the sales people, that's the main thing that annoys me, as soon as I walk in they're all over you. The setup has potential but it seems to be fubar at this point. [ + quote]
rickster9 (Junior Member) 23 January 2009 2:30
Just a quick correction: Source did not buy Radio Shack: Radio Shack had a license from Circuit City to operate in Canada. A few years back, this license was not renewed and Radio Shack reorganized. There are a few new stores but not many. [ + quote]
snardos (Newbie) 23 January 2009 8:20
The only thing I liked better when it was called Radio Shack was that they carried more electronic components (resistors, capacitors, led's, etc.) If I need a single transistor I don't want to have to order from digikey but I don't seem to have much choice. [ + quote]
ZippyDSM (AfterDawn Addict) 23 January 2009 11:58
We use to have 8-10 stores in a 50-100 mile radius from each other we bearly have half that, this is around Chattanooga tn usa btw, radio shack is a joke but they carry basic things no one else will its a shame they don't offer better price points even their online store is over priced... Went to circuit city last week they have at least 20% more to go befor I would it a sale..... best buy had better pricingz 0-o [ + quote]
de3 (Newbie) 27 January 2009 20:22
in the states when you opperate a store that sells items at prices that are too high you go out of business but fortunately over here in canada you can go ahead and screw the people and get away with it i never understood how come they never went bankrupt to start with the SOURCE replaced radio shack but the rediculous prices have stayed the same jesus we all must of been on drugs when we bought stuff from them [ + quote]