Last month we learned that Circuit City may rise again, thanks to a buyout from Systemax Inc. That prophecy comes true within the next few days.

In a video embedded on the temporary splash page, the Systemax CEO claims that the new Circuit City will feature lower prices, a better selection, 24/7 customer service and faster shipping (which starts at $1.99). We’ll find out soon is it’s all talk or if they are going to walk the walk.

The demise of Circuit City was a blow to the many stockholders and employees of the consumer electronics firm. All of the locations around the country were closed and inventory was liquidated over the beginning of 2009. Today Circuit City is no more, but s few of its assets are still under court control.

Consumer electronics retailer Systemax has announced that it has filed a “stalking horse” agreement with the bankruptcy courts handling Circuit City to possibly purchase the e-commerce business assets Circuit City owns.

There was once a time when if you wanted something electronic you went to either Circuit City or Best Buy in many areas. The two stores were among the top electronics retailers in the country. The same can’t be said any more. Today Best Buy is strong, and Walmart is picking up steam in the electronics market and Circuit City is a ghost of its former self.

Circuit City went under this year and since January liquidation firms have been running sales to move the left over inventory that the electronics firm was unable to sell before going out of business. According to the firms behind the liquidation events, all of the Circuit city locations will close March 8.

Some were sad to hear that Circuit City was closing its doors permanently when the announcement was made. The electronics giant tried all it could to avoid closing its doors, including a failed attempt to get Blockbuster to purchase it.

We have talked about the big discounts on electronics that are being offered in the going out of business sales running at Circuit City locations before. The company running the liquidation sales for Circuit City has announced that so far over $1 billion of the $1.7 billion in inventory has been sold.

Circuit City pulled out all of the stops to prevent it from going bankrupt and being forced out of the consumer electronics market. Unfortunately, for the company things didn’t work out and after first closing only select stores, the company was forced to close all of its remaining stores on January 16.

According to one of the liquidation companies responsible for moving all of the inventory sitting on Circuit City shelves and in warehouses the discounts are set to increase. Great American Group says that record numbers of shoppers are coming to the store to take advantage of the liquidation sale.

Circuit City has given up after a long time of posting losses and being unable to compete in the retail electronics market with competitors like Best Buy. The company has been slowly going under for a while now and things accelerated last year when the firm announced store closings around the country.

This week Circuit City announced that rather than selective store closings, it was closing all of its stores nationwide. That announcement means that there are some good deals on closeout products to be had and probably left many consumers who had bought gear at Circuit City and paid for extended warranties wondering about their purchases.

We all know that the economy in the U.S. and abroad is bad right now. People are losing their homes, major automakers are facing the very real prospect of going out of business, and the technology industry is seeing some of the hardest times in many years.

One of the hardest hit companies in the electronics industry is Circuit City. The consumer electronics reseller announced in early November that it was closing down a significant number of its locations, specifically 155 stores would lock their doors on December 31.

The economy is weak as we all know and when the economy is weak sales of certain items tend to drop. The car industry is hurting as is the home industry. Consumer electronics are still predicted to grow, but despite that, Circuit City has found itself in a world of trouble.

Circuit City stock prices were so low that the only way to try to save the company was to announce the closing of 154 stores in the U.S. to help get the company back into the black. The closing of stores is bad news for employees and shareholders, but it is good news for consumers looking for good deals.