The Wiz Nears the End of the Road10 Feb, 2003 By: Hive News
Cablevision Systems Corp, will exit the consumer electronics business by the end of the second quarter, possibly putting its 17 remaining The Wiz stores on the block or closing them.
The company shuttered 26 unprofitable Wiz stores last year as part of a growth plan announced in August.
While the goal was making the 17 remaining stores a more profitable, the chain made a number of changes to improve customer service while evaluating its performance and strategy.
But continuing to operate the stores is no longer a viable option for Cablevision, which faulted the weakened retail economy and other factors.