William C. Rowland

American Appliance Shut Doors to 24 Stores American Appliance, one of the nation's largest independent retailer of appliances and consumer electronics, closed its 24 retail stores yesterday, April 24, 2001. The Philadelphia Inquirer quoted America Appliance Vice President of Advertising Walter Koval by as saying a primary creditor notified the company on Monday that it was going to take back its appliances, which represent about two-thirds of the retailer's inventory. Koval was quoted that the creditor had been "significantly impacted by the bankruptcy of Montgomery Ward and a number of other companies." (See full Inquirer story at http://inq.philly.com/content/inquirer/2001/04/25/business/AMERICAN25.htm) Industry

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