Paul’s TV, the landmark L.A. video dealer, has gone under.
Founded in La Habra, Calif., in 1964 by the late, self-proclaimed “King of the Big TV” Paul Goldenberg, the company rode the rear-projection TV wave to become one of the largest lone TV-centric stores in the country.
Rapid expansion came in the late 2000s following the company’s sale to a private-equity group. Under president Babak Ghaznavi, a veteran of the Circuit City and Good Guys chains, Paul’s opened branches within scores of furniture stores across the country, including the Jordan’s, Art Van and Furniture Row chains.
But its channel presence ebbed as TV margins shrank and sales eventually went south, falling 10.7 percent last year to $100 million, according to the latest TWICE Top 100 CE Retailers Report.
Fire sales were held in recent weeks at its seven remaining stores under the aegis of liquidating trustee Insolvency Services Group (ISG). Its showrooms and transactional website have since been shut down, just weeks after Goldenberg’s death.