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Longtime local retailer announces plan to close

Posted: July 12, 2011 1:30 a.m.
Updated: July 12, 2011 1:30 a.m.
 

Caston’s TV & Appliances of Newhall announced Monday it is closing its doors for good. The family-owned and -operated business first opened in 1967. 

The retailer, a Newhall fixture for 44 years, hired a company to handle the close-out sale.

Closed to prepare for the sale, Caston’s will reopen Thursday at 9 a.m. to begin clearance of its inventory.

The professional liquidation company expects to be able to sell all existing inventory within about six weeks, or 40 days, said Rick Caston, store manager and son of owner Jerry Caston.

Caston’s has seven employees including the owner. The retailer used to employ 12 people prior to the recession, said Jerry Caston.

“Everyone gets paid; I’m not filing bankruptcy,” said Jerry Caston. “But I’m almost 70 years old, and can’t pour any more of my money into it anymore.”

The retailer saw some light in the economy a year ago, but business plummeted last October, Jerry Caston said. Today, business at the appliance store is worse than it was a year ago.

“Retail has changed. The Internet has taken a big chunk of our business,” Jerry Caston said.

Caston’s was sold about seven years ago, Rick Caston said, but the new owner couldn’t turn a profit. The family repossessed the store, and has been running it ever since.

Rick Caston isn’t sure what he’ll do after the store closes. He’s been running the retail operation for the past three years.

Previously, he was in the construction business.

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