PEORIA — American TV & Appliance has announced it is shuttering its War Memorial Drive store along with the nine other stores in the regional chain. A going-out-of-business sale begins Thursday.
Founded in 1954, the Madison, Wis.-based firm operated stores in Peoria and Rockford as well as six outlets in Wisconsin and two in Iowa.
The company has 989 employees affected by the closing, a release noted.
“The last five years have been very difficult for our industries. We have fought hard, valiantly and with great integrity. We are proud of our efforts but the economy has been unforgiving,” said Doug Reuhl, president and CEO of American since 1988, in a news release.
“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.”
American’s Peoria store, 5801 N. War Memorial Drive, was similar to the chain’s other outlets: furniture, big-screen TVs and appliances spread across a spacious, 130,000-square-foot building.
American is filing a Wisconsin Statutes Chapter 128 Receivership for the protection of its creditors.
American announced the following regarding their closing:
►The company will honor gift cards during the store-closing sale and provide refunds to customers who do not wish to redeem them.
►All extended warranty policies that customers purchased are valid and insured through a third-party insurance company.
►Customers who have open orders waiting for delivery will either receive delivery of their goods or a refund of their deposit.
►All products in the service center will be repaired or returned to the customer prior to closing.
Steve Tarter is Journal Star business editor. He can be reached at 686-3260 or firstname.lastname@example.org.