MyerEmco to Close
Washington, D.C.-based electronics chain MyerEmco is going out of business, CEO Jon Myer wrote in a letter to employees. According to NBC's Washington affiliate, a 60-day liquidation sale will begin Saturday.
"After 55 years of serving the Washington area community, MyerEmco Audio Video will be closing its doors forever," said a message that appeared on the company's Web site Friday. "As a family-operated business, we've outlasted many high-profile competitors - but we couldn't outlast this Great Recession. Our loss, however, is your gain. With products in every department at up to 50 percent off, the time to come in is now."
The seven-store chain was founded in 1955 in Silver Spring, Md. The chain reached an agreement in 2007 to be acquired by Harvey Electronics, but the deal fell through in August of that year.