Update: Circuit City liquidators detail plans to close stores

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Going-out-of-business sales are underway at Circuit City locations, with long lines reported over the weekend at many local stores.

But customers expecting massive deals on electronics will have to wait a little longer — merchandise was discounted between 10% and 30% for now, with markdowns set to increase as inventory levels dwindle.

All Circuit City locations are scheduled to close by the end of March, and discounts could reach as much as 90% off in the final days, according to Scott Carpenter, executive vice president of Great American Group, one of four liquidators appointed to close out the stores.

But Carpenter said customers would probably not see such hefty deals on big-ticket items such as flat-screen televisions. Those products will likely fly off shelves well before the end of March, he said.

To read more about Circuit City’s collapse and how the news added to the country’s bleak employment picture, go here.

-- Andrea Chang