Despite announcements of widespread store closings by retail chains including Sam’s Club, Kmart and Macy’s, a once-bankrupted electronics company has announced its plans to re-enter the marketplace.
According to CNBC, Circuit City CEO Ronny Shmoel made a statement during the recent Consumer Electronics Show outlining the company’s plans to expand into the current retail landscape.
In just over a month, a new website will launch, he said. That will be followed by Circuit City-branded kiosks opening in other, larger stores. Finally, the company plans to expand once again into full-size retail spaces.
The company’s focus, however, has shifted to match the state of the electronics art and market. Its new website, for example, is expected to feature high-tech interfaces and capabilities including augmented reality.
Circuit City filed for bankruptcy protection nearly a decade ago and has since entertained ideas of re-opening in smaller locations. Even its online-only operation folded several years ago.
Shmoel purchased remaining assets, including the brand itself and trademarks, in 2015. The following year, he addressed critics who said his plans for bringing the company back was taking too long.
“We could have easily leased a location, put some product in and opened the doors for business,” he said at the time. “Instead, we are taking our time to get this right.”