Ken Crane's call it quits

One of the familiar local names in consumer electronics (lately big screen TVs and home theater systems) will be shutting down within 60 days. Family operation has been around for 62 years, well before anybody had ever heard of home theater systems). From the release:

Despite its history of unmatched service excellence in a highly competitive retail environment, the family-led business found itself powerfully affected by the nation's unusually severe and continuing economic downturn. A steep, relentless decline in same-store sales activity led to the difficult decision.

The chain went through major cuts a couple of years ago and in January it closed four stores. All merchandise will be liquidated at locations in Torrance, Hawthorne, Encino, Pasadena, West Los Angeles and Westminster.