RICHMOND, VA (AP) -- In an effort to make itself profitable again, Circuit City says it's closing about 20 percent of its U.S. stores. The electronics retailer says the 155 stores to be shut down will not open tomorrow, but on Wednesday they'll begin store closing sales.
The Richmond, Virginia-based company has been operating more than 700 stores in 55 markets across the country. The closings will prompt the layoff of about 17 percent of Circuit City's U.S. work force. The company is also cutting plans for store openings.
Circuit City has had only one profitable quarter in the past year. Its stores have seen a significant decline in traffic as they face heightened competition from Best Buy and others. The company says its vendors have taken restrictive actions and that the "current mix of terms and credit availability is becoming unmanageable."
NBC25 has confirmed none of the stores in mid Michigan will be closing. But, there are several across the state which will close. They are:
AUBURN HILLS 4612 BALDWIN RD AUBURN HILLS MI 48326
BLOOMFIELD 2169 TELEGRAPH RD BLOOMFIELD MI 48302
DEARBORN 5600 MERCURY DR DEARBORN MI 48126
JACKSON 1511 BOARDMAN RD JACKSON MI 49202
MUSKEGON OUTLET 1650 EAST SHERMAN BLVD MUSKEGON MI 49444
PONTIAC OUTLET 550 N TELEGRAPH RD PONTIAC MI 48341
ROCHESTER HILLS 2636 SOUTH ADAMS RD ROCHESTER HILLS MI
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