Owners say economy has been too slow to rebound
Walt's TV, Appliance and Furniture Store in Springfield is going out of business after 58 years.
Bonny and David Gnann said today they’ll miss the customers they’ve served for four generations. “It’s been a hard decision,” Bonny Gnann said. “But we decided to quit fighting it and worrying ourselves to death every month. We’ll miss the customers dearly and we’ll miss doing this.”
David Gnann said big box retailers, furniture sales on the Internet, so many more stores selling furniture and the bypass around Springfield all hurt the business over the years, but they were able to adapt to the changes.
They found a niche serving customers who liked the quality of their furniture, buying local and the service they provided.
They could have continued in business if only the housing market and economy had improved faster, he said.
“There are positive signs of the economy turning, but not fast enough,” Gnann said.
Gnann’s father Walter started the business 58 years ago. It’s been in its current location or one building away the whole time.
The store employed 15 people at its peak about 15 years ago. It has six workers now.
The 40,000-square-foot store is packed with furniture that’s priced 30 percent to 70 percent off, for a sale that started today and is expected to last about 90 days.
“I hate to see them go,” said City Manager Brett Bennett. “I grew up in Springfield. Walt’s has always been there. It’s a part of Springfield.”