The closure of American TV & Appliance will leave two properties valued at more than $20 million sitting vacant.
The store announced this week that, after 60 years in business, it would close all its operations, including its Waukesha store and Pewaukee distribution center.
'While this is a sad moment, it is also a proud moment,' said president and CEO of American Doug Reuhl in a news release. 'It's a moment to be proud of our efforts and to be proud of what we have delivered to the community.
'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.'
The closure leaves 989 employees out of work.
Reuhl cited an 'unforgiving' economy over the last five years as a reason for the closing.
An operator from the Waukesha store declined to comment on the closure, and a representative at American's Madison-based headquarters referred all comments to the news release.
American's website on Tuesday morning, indicated that a going-out-of-business sale would start at 9 a.m. Thursday.
In addition to the Waukesha store at W229 N1400 Westwood Drive, American TV & Appliance has four other stores in Wisconsin — in Appleton, Madison, Brown Deer and Oak Creek — as well as two stories in Illinois and two in Iowa.
Services and distribution centers that will close include the Corporate Service Center in Madison and the Distribution Center at W228 N2801 Duplainville Road in Pewaukee.
According to Waukesha County online tax records for 2013, the Waukesha retail location, on 9.713 acres of land, is assessed at $7.515 million.
The 2013 tax records indicate the distribution center in Pewaukee, is assessed at $13.070 million.
The stores were closed Tuesday and Wednesday to mark down prices for the Thursday sale.
According to its website, all sales will be final during the going-out-of-business sale, with no returns. It notes that during the next four days, gift cards will be honored.
All extended warranties will remain valid and insured through a third-party insurance company. It also says that all products in its service center will be repaired or returned to the customer before the closing.