Liquidated: Circuit City

Since Evie's story begins at Circuit City, it only seemed fitting that I take up a little space on her blog to write about its final chapter.

"Circuit City to liquidate remaining US stores
he second-biggest electronics retailer in the nation, Circuit City Stores Inc., says it has reached an agreement with liquidators to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal."

So that's it. A leading retailer in the electronics business for 60 years is now no more.
Surreal.
I hate that that word gets overused, but honestly, Friday was... surreal.

I sat at my desk Friday morning about 9:30AM. I've been a wee bit late everyday this past week. Its hard to wake and go to a company in which you have truly done nothing since the beginning of November when it first filed for Chapter 11.
As one of my co-workers put it, "it's been like walking in a morgue for the last two months, I'm glad its finally over."
I had checked the online news first thing that morning anticipating something positive before the courts would release final word around 10AM. Overall, the online news looked promising. We did have 3 interested liquidators but also 2 very interested parties who wanted to buy the company with hopes of moving forward with the business as a whole.

So, as I sat in my cube pep-talking 2 co-workers. While I shared my theories that the real people who will get screwed would be the directors since the new investors would get rid of the old regime in the first order of business.... I overheard word that there would be a "Town Hall Meeting" at noon. Moments later, 15 minutes before the news was released to the press, it was over. An email was sent out announcing our liquidation.
What?
I had just finished my pep-talk. And, this wasn't any part of it.

Suddenly the halls get very busy. It was like the bell had rung and passing period had begun.
I heard people making jokes like, "Well, I guess you could flick me off now (said a boss to her subordinate)."
I saw some people wide-eyed not really understanding what to do next... do we have to vacate immediately?
Some people began furiously asking for samples of their work while printing out pay stubs as proof of employment for their next job.
I.... sat there. Watching. Mouth hung open. I was speechless.

I, however, have a job.
Yes, the timing couldn't be MORE PERFECT.
A friend turned me on to an opportunity with his company. I hate to post the name of the place on a public blog but basically, I got federal job working in the internal IT dept as a web designer. Yes, I will be going back to my web design roots.
I found out about this opportunity in late December. So late, in fact, they called on December 23rd and wanted me in that day! Due to the holidays and various vacation schedules, I went to an interview late Monday January 5th. Apparently it went very well because my friend called throughout the week with positive news. By Friday, January 9, an emailed offer arrived. Coincidentally, on Friday, January 9, Circuit City announced its plans to hasten its possible buy-out by going to auction the following week. We all thought this type of thing wasn't going to happen until March 1st (this would be the first day of our new fiscal year).

This past Monday, January 12th, I took my HR rep out to lunch. As we sat she turned and said, "You're quitting."
"Yes."
"Damned!"
I told her my feedback on my experiences while working at CC. She listened and asked forward-thinking questions. We were both wondering if any of this was ever going to see the light of day. If the company went belly-up, all of this conversation would be mute anyway.

I called my department Director Monday afternoon and we made plans to meet for lunch on Wednesday. She was out all week moving into a newly renovated home.
I slowly told close co-workers throughout the beginning of the week. How do you tell people you have a job in such a volatile environment? Its like announcing, "Its my birthday!" Besides, who wants to hear your good fortune when their fate hangs in the balance?

Many people were not at all supportive. Jealous, yes. Insecure, yes. Was it hard for me to handle, yes.
I feel terrible. I feel lucky. I feel like there is something I could do to help so many excellent co-workers but in reality, what the heck can I do? Its not like I'm on a life raft that I have any control over.

There were some people who were surprised I had a job. Maybe its because of the market and they've been looking, too. Maybe its because they think they are better than me and are surprised I landed something. Maybe it never truly sunk in that they should be looking, too. After all, some of these people have NEVER HAD ANY OTHER JOB besides Circuit City. After years of being somewhere it becomes the very definition of who you are. To have the rug yanked out from underneath you must be... terrifying. Plus, I think people found my acceptance of another job was somehow "quitting the team". I had opted to jump overboard rather than continue to help bail out water in the great sinking ship.

So, after the news broke on Friday... we sat around for an hour waiting for the Town Hall Meeting. People stood around in the cafeteria waiting for the auditorium doors to open. The room was packed, standing room only (the chairs had been removed for this meeting). Additional employees stood in the cafeteria East Wing waiting to hear the news over the speaker system.
The same panel that has been addressing us for months - acting CEOs, HR Directors, General Counsel, etc. One by one they spoke. One did not receive any applause from me (and a few others). Some people walked out of the meeting... it seemed pointless after awhile.

Many went out to lunch just to get out of the building. I stayed. I didn't know what to do with myself outside of the event that was unfolding minute-by-minute. At 2PM our Director called us together to hand out final letters (notices of the liquidation, really). Everyone would get 60 day severance and health care coverage through the end of March. All are required to report to work on Monday to gather things and see if they will need to stay working at the office as assistants to the liquidators. Some already know they will have to stay on... many assume they will not (why would the liquidators need someone who creates our marketing plans?).

I was one of the last to leave. Its hard to leave. All that stuff - the piles of old Tabs (Sunday circulars) all, useless. All the archives of TV ads, in store ad campaigns, photos of national stores, email addresses of outside vendors... all worthless. Pointless. Useless. I hate to sound dramatic but it really was a rather dramatic scene to behold. I also have to mention here that some Circuit City memorabilia was taken home: a jacket with a logo, an autographed football, a coffee mug. Perhaps it will all be on Ebay sometime soon. The end of an era.

I had taken home nearly everything the night before in preparation of the worst and, again, my last day was in one week. I gather my last remaining things (a lamp, a pin board and a box of kleenex) and headed out at 3:30PM.
I headed straight to the bar.

I might report back to work on Monday. Turns out that I may be eligible for one week's worth of severence pay since I wrote in my resignation letter that my last day would be January 23rd. I wouldn't want to jeopardize free money afterall. ;-)

So, that's that [clap, clapping of hands]. Its over.

A new chapter begins....