One of the Urals’ oldest consumer electronics chain stores might close down before the end of 2009. UralBusinessConsulting Agency of Information and Analytics found out that Uralskiy Val chain store might soon go out of business in accordance with the owners’ decisions.

The possible liquidation could be caused by a dramatic drop in consumer electronics and home appliances sales, which, in its turn, was brought about by the global financial crisis. With the competition going up and the solvent demand going down, the Ural company finds itself unable to compete with the federal chains.

The company’s representatives explained to an UrBC reporter that Uralskiy Val had already started closing down some of its stores, beginning with the ones located outside Yekaterinburg. Besides, all the stores located on rented premises will soon stop operating as well. In fact, only four outlets will probably still be available by the end of summer; these will be selling the remainders of the stocked-up goods in the buildings owned by Uralskiy Val. As soon as these premises get sold, the shops will be closed.