The Source by Circuit City files for creditor protection

I always thought it was kind of odd that The Source by Circuit City was selling the new BlackBerry Pearl 8220 $50 more than everyone else. Now I know the reason was to try and squeeze a few extra bucks out of us before pulling the Chapter 11 switch.

Feeling the economic crunch, United States based Circuit City Stores Inc. filed for bankruptcy protection, forcing InterTAN Canada Ltd. (who owns 772 “The Source by Circuit City” stores) to follow suit and file for creditor protection. Ron Cuthbertson, president of InterTAN said “We regret the necessity of this action and will be working diligently with our suppliers, employees and creditors to produce a successful holiday selling season”.

InterTAN has said the stores will stay open and will honour all returns, exchange warranties and gift cards. On a high note if you are looking for some good deals this holiday season, The Source could be a good bet for cheap electronics, phones… but don’t get their warranty!