Malls in general are also in trouble; many are turning into office buildings; others are closing for good.
One immediate impact on customers: There are liquidation sales everywhere you look!
Gibbons visited a Circuit City right down the street from The Early Show studio and noted the prices of 13 different items.
We then headed online and to the phones to compare those prices to those at other major retailers.
To understand why, it helps to know how these sales work.
Many large chains will bring in liquidation specialists -- companies appointed to help sell off a struggling retailer's assets.
This is deceptive, and even illegal in some states, but that doesn't stop anyone from doing it.
How do you know if an item is part of this additional inventory?
However, we did find some products there were MORE expensive at the liquidation sale.
This kind of thing is more likely to happen at electronic, jewelry and carpet stores.
Something else to keep in mind: Electronics that are brought in as part of this excess inventory are often reconditioned, but sold as brand-new items.3.
Check the price tag to see if it looks like the majority of the other tags in the store.
If there's a different typeface, format, color, etc, you're probably looking at excess inventory that's been brought in for the sale.
Watch for Bogus Bargains Sometimes, liquidators bring in outside goods or additional inventory to supplement what the retailer has in stock, the idea being to sell as much as possible.