Metrics firm Hitwise looked to see where surfers searching for Circuit City-related terms were ending up now. Not surprisingly, the number of them actually going to CircuitCity.com has sharply dropped. The number going to BestBuy.com and RadioShack.com, though, has jumped quite a bit.

Best Buy took in 20 percent of downstream traffic from CircuitCity.com last week, Hitwise says. Walmart.com, Kmart.com, and Sears.com also snagged respectable shares. Other sites seeing traffic from Circuit City-related search queries include CNET, Chase Banking, Yahoo, Closeouts EZ, The Consumerist, and PC World.

The free ride may not last forever, though: As we reported last month, another organization could end up buying the CircuitCity.com domain and identity, even using the site to sell electronics under the Circuit City brand.

CircuitCity.com Traffic Going to Best Buy, Radio Shack is a post from: The Inquisitr

Circuit City Buyout

Circuit City shut down all of its remaining 567 stores on Sunday. Its Web site now features a goodbye message that ends with the line:

“CircuitCity.com is also temporarily closed, although we anticipate the website will reopen in the coming weeks. Please check back for updates.”

The reason: The Hilco Organization, the firm that handled the liquidation of Circuit City’s stores last year, is bidding for the brand. Hilco has publicly said it wants to own the name and take over CircuitCity.com. If that happens, it would have the right to eventually reopen old physical stores or start new ones as well, though Hilco execs haven’t indicated whether that might be a possibility. It could also start its own exclusively online retail business under the Circuit City name. A bankruptcy court judge would have to approve any such transaction.

Hilco has been in the brand-buying business before: The company bought out the assets of Linens ‘N Things just last month. That Web site now appears poised to reopen, with a home page notice proclaiming “an exciting new store filled with top brands and outstanding value is around the corner.”

In Canada, Bell Canada has already bought out 750 The Source stores, which had been operated by Circuit City.

Circuit City Future: Could CircuitCity.com Live On? is a post from: The Inquisitr

Good-bye Circuit City – it was nice knowing ya is a post from: The Inquisitr

In its filing, Circuit City indicates it will continue to operate its stores and pay its employees — at least, those who won’t be affected by the scaled back operation — normally. It also discussed plans for a full “restructuring plan” to let the business become a profitable venture once again.

Circuit City’s bankruptcy filing mentions additional cutbacks within the company’s corporate headquarters as well, with about 700 jobs being cut on top of the 7,800 positions lost from the closing stores themselves. Overall, the filing says, the workforce will drop about 20 percent. And more cuts could be coming, though with the language used, specifics are still anyone’s guess:

“As part of its restructuring efforts, the company will continue to assess the productivity of all assets, review additional cost-cutting initiatives and explore strategic alternatives to maximize the value of the business.”

You can find a full list of the Circuit City store closings here. The complete bankruptcy filing announcement follows.

Circuit City Bankruptcy

Circuit City Bankruptcy Plan Announced is a post from: The Inquisitr

The company’s trying hard to wipe the egg off its face after sending out a corporate order for all its stores to pull copies of MAD Magazine from their shelves. The problem? The magazines made fun of them.

The “Sucker City” ad apparently didn’t have execs laughing — at least, not at first. But once word got out about the company-wide censorship attempt, the electronics giant went on damage control. The magazines were put back up for sale and a statement was put out, calling the move a “knee-jerk reaction” by “some overly sensitive souls” at the corporate offices.

“Most of us at Circuit City share a rich sense of humor and irony … but there are occasional temporary lapses,” a spokesman wrote.

No doubt, MAD comes out the winner in this debacle — particularly with its response to the whole mess:

“We at MAD were shocked and confused by this entire incident — mainly because we had no idea that Circuit City even sells magazines. Nonetheless, we accept their apology but hold out hope that their gesture of a $20 gift card is only an opening offer.”

Corporate Censorship: Someone’s In Trouble is a post from: The Inquisitr