Circuit City Liquidation Begins; Burrow Positive About Replacement - KAIT Jonesboro, AR - Region 8 News, weather, sports

Jonesboro, AR -- Lauren Payne Reports

Circuit City Liquidation Begins; Burrow Positive About Replacement

JONESBORO, AR (KAIT) -- After 60 years in business, Circuit City announced Friday, it's closing its doors. The electronics retailer will shut down all of its 567 stores nationwide leaving tens of thousands without jobs, including dozens here in Region 8.  35 people including Circuit City Store Director, Gil Cupples, will lose their jobs. Cupples says he got the news this morning. It was news he says he wasn't expecting.

"We actually had a couple of buyers that were really interested and we thought they would be able to go through, but the stuff that was going through this morning--through the courts. There just could not be an agreement made," said Cupples.

"We may have a few days down from the time they move out until the new one moves in, but we're fine," said Bruce Burrow.

Though he's still tight lipped on specifics, developer Bruce Burrow, with MBC Holdings,  says there are a couple of tenants interested in filling Circuit City's spot.

"Let me tell you what my preference would be, it would be to go back with electronics, because that's the tenant mix we went after early on. I think that would be my personal preference. If that's reality, don't know yet," said Burrow.

Circuit City's liquidation will start on Saturday, and store officials expect them to be over by March. As far as how long it will take to get someone back in that space, Burrow says a lot depends on the user.

"That will tell us what we have to do to renovate that store for their footprint," said Burrow.

For Gil Cupples, despite wishes for the best, he says he and dozens of others must now plan for the worst.

"It's a family, and unfortunately most of them will be without jobs," said Cupples. 

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