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Appliance World Shutters Denver-Area Stores

Appliance World Shutters Denver-Area Stores

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Sign of the economic times-- large appliance retailer can no longer make it in the Denver -area.
Sign of the economic times-- large appliance retailer can no longer make it in the Denver -area.

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Published by: Samurai Appliance Repair Man on Jan 30, 2010
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Denver Business Journal - January 29, 2010 /denver/stories/2010/01/25/daily72.html

Thursday, January 28, 2010, 10:08pm MST | Modified: Thursday, January 28, 2010, 10:15pm

Appliance World shutters Denver-area stores
Denver Business Journal - by Renee McGaw and Mark Harden

Appliance World stores in the Denver area have been closed in the wake of the chain's parent company filing for bankruptcy protection three months ago. "Effective immediately, Appliance World stores are permanently closed," a notice on the retailer's website said Thursday. The chain has five metro-area stores, in Denver, Arvada, Aurora, Littleton and Highlands Ranch, plus one in Colorado Springs, according to the website. On Oct. 20, Denver-based GCF Holdings LLC, which owns Appliance World, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Tampa, Fla. The company listed between $1 million and $10 million in both assets and liabilities, and said it had between 100 and 199 creditors. In addition to Appliance World, the company had subsidiaries in Florida and New Mexico, according to the filing and news reports. Riverview Ventures Inc. of Bradenton, Fla., did business as DeSears Appliance & Home Entertainment. Four DeSears stores in Florida were closed Dec. 2, the Bradenton Herald newspaper reported. Another GCF subsidiary, DCE New Mexico LLC, operated a pair of electronics and appliance stores under the Baillio's name in Albuquerque and Santa Fe. The Baillio family, which had sold the stores to the Denver company, resumed ownership after the Chapter 11 filing, the Santa Fe New Mexican newspaper reported. The Appliance World website notice said that customers who already have been notified their appliance order is in "may pick up on Tuesday February 2 at our Denver warehouse located at 320 S. Lipan." It said others with existing orders should "please continue to visit our website for ongoing information on receiving your product or a refund."

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