By Jim Hagerty
One of the region’s best-known electronics furniture and appliance chains is calling it quits after 60 years, according to a news released Monday, Feb. 17.
Beginning Feb. 20, American TV will liquidate its entire inventory of appliances, furniture and electronics. The company is now in the process of filing a Wisconsin Chapter 128, forcing the Madison-based company into receivership.
According to the news release, the last five years have been too economically difficult for the company to continue. Michal Polksy has been appointed as the receiver of the company.
“While this is a sad moment, it is also a proud moment,” American President and CEO Doug Reuhl said. “It’s a moment to be proud of our efforts and to be proud of what we have delivered to the community. Words cannot adequately express how grateful we are to our millions of loyal customers, and to the incredible, dedicated family of employees that we have been blessed with over our 60 years of business.”
During the liquidation sale, American will honor gift cards, extended warranties and scheduled deliveries. Customers who do not wish to redeem gift cards or receive pending deliveries will be given a refund.
All products in American service centers will be repaired or returned to the customer before closing. The company has not announced when it will close its doors for good.
American was founded in 1954. Employing 989 people, the chain has 11 stores including six in Wisconsin, two in Iowa and two in Illinois. The Rockford store is at 6651 E State St. American’s other Illinois’ location is in Peoria.