Helio has closed all stores but New York

U.S. MVNO^(INFO) Helio has closed all of its stores except for its New York based location as part of its effort to cut costs, something it is contractually required to do as part of its deal to be acquired by Virgin Mobile. RCR Wireless News spoke with Helio about the closings and was told that the NYC store is not scheduled to be closed at this point, but that Virgin can do with it as it sees fit once the acquisition is complete.

The piece says that Virgin's plan for Helio is to cut staff from 570 to just 200. Virgin is expecting the deal to close by the end of September.