Circuit City to close stores in Indianapolis, Lafayette, South Bend and Clarksville

By Norm Heikens, The IBJ

nheikens@ibj.com

Troubled electronics retailer Circuit City Stores Inc. said today it will close its store near Washington Square Mall on the east side as part of a plan to shutter 155 locations nationwide and return to financial health.

Also slated for closing are locations in Lafayette and South Bend, and one in the southern Indiana town of Clarksville.

Richmond, Va.-based Circuit City said the 155 closings will touch 55 domestic media markets, and that it would entirely pull out of a dozen of those markets.

Locally, Circuit City also has locations at 5410 East 82nd St. in Castleton and at 8014 U.S. 31 in Greenwood.

Circuit City closed its store in the Clay Terrace shopping center in Carmel early this year.

The company said that it will delay opening some new U.S. stores, renegotiate some leases and consider all of its options to restructure its business.

In recent weeks, sales and profit margins have suffered as consumer confidence fades and the retail environment weakens, Circuit City said.