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Ken Crane’s going out of business
Sixty-two years after Ken Crane started selling early-model television sets out of a storefront on Crenshaw Boulevard, the venerable local chain is going out of business.
Over the weekend, the six remaining stores in the Ken Crane’s Home Entertainment chain began liquidating their inventory of big-screen TVs, and a big sale drew crowds. But the ongoing sale was bittersweet for Crane’s daughter and son, who grew up in the family’s stores and took over the company after their father’s death in 2004.
“It’s the most gut-wrenching, painful decision we’ve had to make,” said Pam Crane, who serves as the company’s executive vice president. She blamed the chain’s demise on the economy more than on cutthroat competition in the home electronics business.
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