A Circuit City Q&A for liquidation deal shoppers

Things aren't always clear cut when it comes to companies going out of business. Can you still use the Circuit City gift cards you got for Christmas? Will warranties still exist? You just never know, but here's a few pointers from Circuit City's Q&A page:

Will Circuit City stores continue to accept Circuit City gift cards?

Yes, customers holding Circuit City gift cards may redeem them at full value at our stores during the liquidation sales. Once the stores are closed and the company is out of business, the gift cards will have no value.

Are Circuit City's extended warranties affected by the liquidation?

No. Circuit City Advantage Protection Plans® (extended warranties) have been backed by third-party independent companies for more than 15 years and as a result, are not impacted by Circuit City's closing.

Currently, all Circuit City Advantage Protection Plans are fully backed by the Assurant Solutions companies. Assurant Solutions operates as Federal Warranty Service Corporation, Sureway, Inc., and United Service Protection, Inc. Assurant Solutions is part of Assurant, Inc. (NYSE: AIZ), and its extended service contacts are backed by an Assurant insurance subsidiary rated A "Excellent" by A.M. Best Co.

When will the liquidation sales begin?

Liquidation sales begin as early as Saturday, January 17, 2009, and will last as long as it takes to sell through the merchandise at each of the stores. We expect the sales to wrap up by the end of March 2009.

How much will merchandise be marked down, and can customers negotiate prices for the merchandise?

There will be clearance pricing, but specific discounts are not being announced. All sale prices are at the discretion of the liquidator. Prices are non-negotiable and all adjustments must be approved by the liquidator's on-site managers.

What payment types will be accepted at the liquidation stores?

Stores in liquidation will accept cash, Circuit City gift cards and most credit cards. Personal checks will not be accepted. All sales are final.

Will Circuit City's price matching policy or the One Price PromiseSM apply during the liquidation sale?

Because the liquidation company is in charge of the sales at the closing stores, their policies are in force. So, One Price Promise does not apply during liquidation events, nor does the company's Unbeatable Price Guarantee. All sales are final.

What about returns and refunds?

Customers can return products they purchased prior to January 16 for a 14-day period for exchange or refunds. All other terms of return policy are in force.