Lakewood Freedom Home & Electronics outlet closing

Virginia-based Freedom Home & Electronics has announced it will close its nationwide network of 11 outlets, including a store at Lakewood Towne Center.

Other company services including Freedom Travel and Military Credit Services will remain in business.

The 11 stores, located primarily near military installations, have begun hosting liquidation sales, the company said in a release.

“The decision was a necessity, but that doesn’t make it any easier to say goodbye,” said Link Melley, company president.

Melley said two factors forced the closure. First, the lease-to-own industry “seriously affected our customer traffic,” and second, the price of consumer electronics “has decreased significantly, and we simply can’t make up the volume.”

This story was originally published July 13, 2015 at 2:09 PM with the headline "Lakewood Freedom Home & Electronics outlet closing."