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BETHPAGE, N.Y. -- It may soon be lights out at The Wiz, following parent company Cablevision's announcement that it plans to either close or sell the chain's remaining 17 locations. This, after the chain shuttered 26 stores in September 2002 in an effort to scale back losses and ultimately achieve profitability, something the retailer hasn't seen before filing bankruptcy in December 1997.

Cablevision purchased the then 55-store CE chain for a reported $90 million to $95 million, with the hopes of having a showcase for the company's cable, connectivity, sports-and entertainment-related services, all of which could be tied in to CE hardware sales.

But in spite of hiring retail veterans and opening newly formatted stores, The Wiz was never profitable for its parent company. The decision to leave 17 stores in operation after last fall's closures was reportedly a contentious one, according to sources close to the company. At the time, said a source, the company wanted to be rid of the chain for good.

"The Wiz made a number of changes to its business to improve customer service, while continuing to evaluate its performance and strategy," said the company in a statement. "However, continuing to operate the stores is no longer a viable option for Cablevision as business conditions at the retailer eroded due to a weakened economy and other factors."

Cablevision's intent is to be rid of the remaining units by the end of its second quarter ending June 31, 2003, but has not divulged whether a potential buyer exists. Best Buy entered the New York market two years ago but currently operates just one unit in Manhattan with plans for five stores in the city (The Wiz's five Manhattan units are now available). Whether The Wiz stores would be a good fit for Best Buy is questionable as even the newest prototype is just 25,000 square feet. A typical Best Buy store is 45,000 square feet, although smaller 35,000 square feet formats have been developed for smaller markets and urban areas.