Circuit City Pulls the Plug on 155 Stores - NBC Bay Area

Circuit City Pulls the Plug on 155 Stores

10 Bay Area stores closing



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    Circuit City, the country's second-largest electronics retailer, is closing 20 percent of its stores, including nine in the Bay Area.

    If electronics shopping is on your list in the near future, there are fewer stores for you to shop in this year.

    Circuit City said it will close about 20 percent of its U.S. stores in an effort to return the nation's second-largest consumer electronics retailer to profitability.

    The Richmond, Va.-based company said Monday that it will shut down 155 of its more than 700 stores in 12 markets by Dec. 31, laying off thousands of employees.

    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.

    At least 10 Bay Area stores are on the chopping block.  They are in:
    Morgan Hill
    Palo Alto
    San Rafael

    The company is reviewing its operations while exploring strategic alternatives.