Irvine-based home electronics retail chain Paul’s TV is out of business, according to an announcement on the company’s website.
“The combination of low prices and margins has made it impossible for Paul’s TV to remain in business,” the message said. “Our Paul’s TV family will miss working with all our customers. We thank you for your support over the past 51 years.”
Tiger Capital Group’s Remarketing Services Division plans to conduct an online auction of the 11-store retailer’s inventory on Nov. 5.
The late Paul Goldenberg, who called himself the “King of Big Screens,” founded the company in 1964 in La Habra with a $1,000 loan. He passed away in August of natural causes at age 87.
A private equity firm had purchased Paul’s TV in 2006.
