Ken Crane’s, a fixture in Southern California TV retailing, is liquidating all merchandise and will shut its doors within 60 days.
The privately held business found itself “powerfully affected by the nation’s unusually severe and continuing economic downturn,” the Crane family said in a statement, and “a steep, relentless decline in same-store sales activity led to the difficult decision.”
The 62-year-old business shut four of its 10 stores in January as part of a restructuring that also saw the departure of senior VP/COO Steve Caldero.
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