As Predicted, Good Guys Prepares to Close Stores

PORTLAND-Good Guys Inc. may have found someone to take over several of its leases here in the Northwest.

The consumer electronics retailer announced this week — along with dismal December sales — it will close eight unprofitable stores over the next two months, including five of its 14 stores in Washington and Oregon. The news comes two weeks after GlobeSt.com broke news that Good Guys has brokers marketing nine of its leases in the two states and would be closing stores as sublease tenants were secured.

The stores to be closed are in Tacoma, Federal Way and Silverdale, WA; Clackamas and Airport Way in Portland, OR; Pinole and West Covina, California; and Maryland Parkway in Las Vegas, NV. “These low-volume stores account for a significant portion of the company’s losses; excluding these stores Good Guys is cash-flow positive year-to-date,” says Kenneth R. Weller, Good Guys chairman and chief executive officer. “Good Guys is also pursuing improved lease terms at a limited number of additional stores and expects to reach a satisfactory conclusion to these matters in the near future.”