CONCORD, Calif. (KCBS) -- Circuit City is closing nine of its 20 stores in the Bay Area. Nationally, the company is closing 155 of its more than 700 stores by the end of the year.
It's part of an effort to return to profitability.
KCBS’ Matt Bigler Reports
In the Bay Area, stores in Concord, Dublin, Fairfield, Fremont, Morgan Hill, Palo Alto, Pittsburg, Richmond, and San Rafael are closing. The electronics retailer says thousands of employees will be losing their jobs.
The store closures represent 20 percent of the company's existing facilities, meaning 20 percent of the company's employees will lose their jobs. Circuit City is the nation's second largest such store. Business has been eroding in the weak retail sector and from competition at Best Buy.
Most Bay Area residents see it as a symptom of the ailing economy.
The only good news: big sales at the stores that are liquidating.
(MGO)
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