Steinhafels’ American TV purchase approved

Published April 22, 2014 2:42pm ET



MADISON, Wis. (AP) — A Dane County judge has approved the sale of five American TV & Appliance stores for a total of $21 million, including three to the Steinhafels furniture chain.

American TV went out of business last month and shuttered 11 locations. Nearly 1,000 people in Wisconsin, Illinois and Iowa lost their jobs. American TV filed for protection from its creditors in Dane County Circuit Court under the state’s receivership law, an alternative to federal bankruptcy.

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