Wilmington, Del. – Sixth
Avenue Electronics has closed its Wilmington, Del., store, leaving it with nine
locations in New York and New Jersey.
The 45,000-square-foot
Delaware site was a former Circuit City location that Sixth Avenue acquired and
re-opened in September 2009 as part of a foray into the greater Philadelphia
area.
The family-held A/V
specialty chain exited the Philly market in February and has since closed 10 of
its 19 stores.
Operations VP Tom Galanis
said the Delaware store was “a great location,” but like other recently
shuttered sites proved too large after the company dropped major appliances and
industry momentum shifted to mobile handheld devices.
The retailer is also
contending
with a $9.6 million suit
by GE’s Commercial Distribution Finance unit,
which claims the chain defaulted on its inventory finance credit line.
