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Monday, November 03, 2008
Monday, November 03, 2008
Circuit City Announces 155 Store Closings
The Circuit City stores in Tyler and Longview will remain open, but 155 others across the country are being shut down, the electronics retailer announced Monday.
In Texas, cities that will see one store close are Burleson, Cedar Park, Dallas Houston, League City, Mansfield, McKinney, Sherman and Temple.
The Richmond, Va.-based electronic retailer said it needs to find ways to save money and refinance. The stores that will close are underperforming and unprofitable, the company statement said.
In the announcement, James A. Marcum, vice chairman and acting president and CEO, said a “slowdown of consumer spending,” is also partly to blame.
The business said it has delayed plans to open new stores and is trying to renegotiate leases on existing properties.
In the announcement, James A. Marcum, vice chairman and acting president and CEO, said a “slowdown of consumer spending,” is also partly to blame.
The business said it has delayed plans to open new stores and is trying to renegotiate leases on existing properties.
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