American closing, nearly 1,000 employees affected

American closing, nearly 1,000 employees affected

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MADISON, Wis. (AP) - The Madison-based furniture, appliance and electronic retailer American is going out of business. The closure of its 11 locations affects nearly 1,000 employees.

American says that after 60 years in business, the company will close 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. The locations include seven in Wisconsin and two each in Illinois and Iowa.

American is filing Chapter 128 receivership to protect its creditors.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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