Appliance World Goes Bust

Well-known appliance retailer, Appliance World stores in Denver, Colorado have been closed because its parent company, GCF Holdings LLC filed for bankruptcy three months ago. This does not only affect its Denver operations but also involve its other metropolitan stores namely those in Arvada, Aurora, Highlands Ranch, Littleton and Colorado Springs.

According to the retailer’s official website, the closure is permanent.

In its October 20 bankruptcy filing, GCF Holdings, a company based in Denver applied for bankruptcy protection in the US Bankruptcy Court in Tampa under Chapter 11 of the Bankruptcy Code. In its filing the company stated it had a combined total of between $1 million and $10 million in assets and liabilities and between 100 and 199 creditors.

Existing customers who have already been informed that their order is in may collect them at the Appliance World Denver warehouse at 320 S. Lipan on February 2. Other customers with existing orders who have not received confirmation that their order is ready for collection are advised to refer to the company’s website for the latest information on receiving their products or a refund.

Besides Appliance World, GCF Holdings is also the holding company of several other subsidiary companies in Florida and New Mexico. It appears that the bankruptcy has affected these other subsidiaries in very much the same way.

One of these other subsidiaries, DCE New Mexico LLC has been operating 2 electronics and appliance stores that they bought over from the Baillio family. But since the bankruptcy filing, the family have resumed control of the stores.

Another subsidiary, Riverview Ventures Inc. of Bradenton, Florida that did business as DeSears Appliance and Home Entertainment had to cease the operations of 4 of its stores in Florida on December 2 last year.