6 Circuit City Stores in Maryland, Virginia to Close

Circuit City closing 155 stores

Monday, Nov 3, 2008  |  Updated 5:19 PM EDT
View Comments (
)
|
Email
|
Print
6 Circuit City Stores in Maryland, Virginia to Close

Getty Images

Circuit City is closing 155 stores.

advertisement

RICHMOND, Va. -- Circuit City is closing about 20 percent of its U.S. stores in an effort to return the nation's second-largest consumer electronics retailer to profitability, the company said.

The Richmond, Va.-based company will shutter 155 of its more than 700 stores in 12 markets by Dec. 31, laying off thousands of employees, Circuit City said.

Click Here to View the Entire List

Circuit City has had only one profitable quarter in the past year, posting a wider second-quarter loss in September with a 13.3 percent decline in sales at stores open at least a year. Its results have weakened amid a deteriorating retail environment and heightened competition from rival Best Buy Co. and others.

The company is reviewing its operations while exploring strategic alternatives.

Stores in Baltimore, Beltsville and Marlow Heights will be closed in Maryland, as well as stores in McLean, Manassas and Charlottesville.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Join the Ride to Conquer Cancer
Join the Ride To Conquer Cancer, Sept. 13... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out