TV and furniture company American is going out of business.

In a release, the company says it has notified 989 employees at 11 locations of the closure.

Going-out-of-business sales will begin on Thursday, February 20th at all stores to liquidate.

The company says the last five years have been very difficult for the industry, and the economy has been unforgiving.

“While this is a sad moment it is also a proud moment. It’s a moment to be proud of our efforts and to be proud of what we have delivered to the community”, Doug Reuhl, President and CEO of American, is quoted in the release. “Words cannot adequately express how grateful we are to our millions of loyal customers, and to the incredible, dedicated family of employees that we have been blessed with over our 60 years of business”.

American also released the following information about the going-out-of-business sale:

--American will honor gift cards during the store-closing sale and provide refunds to customers who do not wish to redeem them.
--All extended warranty policies that customers purchased are valid and insured through a third-party insurance company.
--Customers who have open orders waiting for delivery will either receive delivery of their goods or a refund of their deposit.
--All products in the service center will be repaired or returned to the customer prior to closing.