Monday, February 17, 2014

2-18-14 american tv and appliance going out of business

MADISON, Wis. (AP) — A Wisconsin-based furniture, appliance and electronic retail chain with stores in two other states is going out of business.   American TV & Appliance of Madison, Inc. says that after 60 years in business, the company will close it's 11 locations, terminating the jobs of nearly 1,000 people. The locations include two stores each in Illinois and Iowa and five stores, corporate offices and distribution center in Wisconsin.  American says it will close its door after it completes a liquidation sale beginning Feb. 20. American CEO Doug Reuhl says although it's a "sad moment," it's also time to recognize dedicated employees and loyal customers.    Reuhl says American's 989 employees have been notified and will remain employed through the closing process. American is filing Chapter 128 receivership to protect its creditors.

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