OVERLAND PARK, Kan. - Zapped by the economy, several high-end electronics stores in Johnson County are pulling the plug.
Continental Audio Video, Audio Mart and Accent Sound all have "going out of business" signs up in the windows.
Mark Brummel's business, Continental Audio Video, has been located at 10440 since 1977. Brummel has been in charge for the past 11 years. He said ten of the years were good, but one bad year was all it took. By week's end, he will clear the rest of his discounted merchandise and close the doors for good.
"I haven't seen anything like this at all," said Brummel, who said he has weathered several slow periods during his three decades of experience in consumer electronics.
Lately, customers have been few and far between. At the beginning of the year, Brummel's bank refused approving a line of credit. By April, the business owner wondered how long he could afford to wait for people to start spending their disposable income on flat-screen televisions and surround-sound stereo systems.
"People are putting money in the bank. They're paying their loans. They're trying to keep their house," said Brummel. "My type of high-end items aren't on the agenda right now and haven't been for the past six months to a year."
Brummel said the local housing market has also put a dent in business. After years of custom installations in new construction homes, there are now empty lots and idle construction equipment scattered throughout Johnson County. The real estate situation gave Brummel his own glut of inventory.
Customer Jim Balquist stopped into the store on Tuesday afternoon, and rolled out with several boxes of highly-discounted home theater equipment. Even though he and his wife have been planning a basement remodeling project for months, Balquist said there is natural trepidation about paying thousands of dollars on electronics in the current economy. However, the "going out of business" sale was too good to pass up.
"There's a lot less home building than going on than there was a couple years ago and I think folks are hunkering down a little and holding on to what they've got," said Balquist. "It's sad to see this happen and you kind of wish he could make it through something like this."
Brummel will close the store on Saturday. He says some of his service technicians will be able to provide support for the thousands of customers who have bought equipment over the years. However, the sales staff will search for other opportunities.
