Gizmodo had this jaw dropper yesterday: "Sony's merchandise that was being delivered to nationwide Circuit City distribution centres was stopped in transit and ordered to return to Sony 'among worries that Circuit City couldn't pay for the shipments.' " Giz attributes the tip to one of its reliable inside sources.
What's this mean for you? Until Circuit City convinces Sony its credit is good, no more Sony stock on the floor, certainly nothing new. Very interesting, if true. I went to a CC yesterday to get a wireless DualShock for the PS3. They had one left. Last! I got last! Incidentally, that store is hiring.
Doesn't sound like a good career move, though. GamePolitics points out this could be the killing blow. Back in September, an analyst warned:
We believe a Circuit City bankruptcy has become a question of "when" rather than "if." We now expect bankruptcy in 2009, perhaps as early as the 1Q. The wild card in the equation remains vendors. If one major vendor were to cut off Circuit City, we would expect others to quickly follow suit...[emphasis added]