Circuit City announced today that it’s closing 155 stores around the country including the store at 34920 Enchanted Parkway S. in Federal Way.
The Richmond, Va.-based company said in a news release that it would shut 20 percent of its stores as part of a plan to return to profitability.
The stores are scheduled to close by Dec. 31.
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, according to The Associated Press. Its results have weakened amid a deteriorating retail environment and heightened competition from rival Best Buy Co. and others.
The company is reviewing its operations while exploring strategic alternatives.