Local appliance store learns tough lessons from a tight spot
Nearly one year ago, Queen City Audio, Video & Appliances started its 60th anniversary year in a precarious position: Chapter 11 bankruptcy.
The Charlotte-based company was, like many appliance retailers, reeling from the sustained housing downturn.
When home values plummeted, fewer people could move, fewer developers could build, and the home appliance market - where sales had grown in the boom times - began to feel the pain.
After four years of fighting the tide of dwindling demand, Queen City filed for Chapter 11 bankruptcy protection