Circuit City to Put Some New Stores on Hold
Circuit City plans to “cut back” of some of the new stores it had planned to open this fiscal year, as the company seeks to recharge under a new CEO.
According to the Richmond Times Dispatch, a company spokesman confirmed Friday that the struggling chain will put some of the planned new stores on hold. The company had said when it announced earnings last week that it would honor commitments for new stores through next February.
Circuit City’s CEO, Philip Schoonover, was removed last month; James A. Marcum has taken over the position on an interim basis.