Madison-Based Retailer American TV & Appliance Will Close

The Madison-based retailer American announced this week that it’s going out of business, a decision that affects nearly 1,000 employees.

American, which sells furniture, appliances, and electronics, cited an “unforgiving economy” over the past five years in a statement announcing the company’s closure. American will close all of its stores after the completion of its going-out-of-business sale, which starts Thursday.

The company didn’t make anybody available for comment, but in a statement American’s CEO Doug Reuhl said that while this is a “sad moment,” it’s also a proud one because of what it has delivered to the community. A majority of the almost 1,000 employees will continue to work for American through the closing process.

Two of American’s retail stores are located in Madison, in addition to its corporate headquarters. South Madison Development Corporation CEO Dan Guerra Jr. said the closing is not only a blow to south Madison, but a blow to the regional economy and to hardworking families.

“It has been a longstanding, iconic symbol of retail success for the last 60 years,” Guerra says.

Guerra thinks American’s closure is evidence that “traditional” retail is in trouble.

“So now, more than ever, do we have to take more of an active role in our consumer behavior and support small business,” said Guerra. “Again, I say this is an opportunity for us and a reminder to help other small businesses out there succeed and add jobs to our local economy.”

However, Guerra said, it’s important to look forward.

“Now we can see American TV and its real estate and see if there’s an opportunity to leverage the beltline and some additional commercial interests,” said Guerra. “So while this is very sad news, I’m very enthusiastic that the opportunity that it creates for us. There’s a big parcel of real estate in play now that wasn’t there before.”

Of the retailer’s locations, six are in Wisconsin. The others are in Illinois and Iowa.