Electronics Retailer Closing Shop In Philadelphia Area

PHILADELPHIA (CBS) - A retail electronics chain is closing three stores in the Philadelphia area. North Jersey-based Sixth Avenue Electronics has closed its stores in Deptford, Middletown Township, Bucks County and Montgomery Township.

"We couldn't turn a profit in those locations," says company VP Tom Galanis. He says increased competition from retailers such as H.H. Gregg and the high cost of print advertising forced the decision to pull out of the Philadelphia market.

"The numbers just didn't work out. We were very saddened by the fact that we had to close. The community's been great. Very nice customers, good people down there. We're saddened by the fact that we had to let go some of our employees."

Sixty employees are losing their jobs. Some are being offered positions at Sixth Avenue's 15 stores in North Jersey, New York and Delaware.

Reported by Mike DeNardo, KYW Newsradio 1060