Feb. 17--American TV & Appliance, the Wisconsin-based retailer that pulled out of the St. Louis region in 2011, is now closing down for good.
Blaming an "unforgiving" economy, the retailer announced today that it will be closing its 10 remaining stores in Wisconsin, Iowa and Illinois. The company said it will file for receivership and begin a liquidation sale on Thursday, according to the Milwaukee Journal Sentinel. It has 989 employees.
American TV & Appliance left gaping vacancies in the region when it exited the St. Louis market in 2011 with stores that averaged about 130,000 square feet in size. It had four stores in this region in Bridgeton, Fenton, Cottleville, and O'Fallon, Ill. as well as a distribution center in Earth City.
At the time, the company said the St. Louis market had been bit harder by the recession than the other markets where it operated in and said that its other stores outperformed its St. Louis locations.
The retailer first entered the St. Louis region in October 2004.
It has obviously has been a difficult road for many electronics and appliance retailers coming out of the recession amid heightened competition from online retailers and big box stores such as Best Buy and hhgregg.
Circuit City and Ultimate Electronics are among the other retailers have that gone under in recent years.