Going-out-of-business sales started Friday at Alco Stores, a chain of nearly 200 general-merchandise discount retailers that cater to small communities in America’s heartland, the Wall Street Journal reported on Saturday. The impending closure of the stores — which sell everything from appliances and furniture to clothing and groceries — is likely to severely limit the shopping options for Alco customers. Most of the stores are located in towns of fewer than 5,000 residents, and Alco specifically targets areas not already serviced by Wal-Mart and other larger retailers. The 113-year-old business sought bankruptcy protection last month with plans to liquidate if it didn’t find a buyer willing to keep the stores open. This week, Alco said that a sale didn’t pan out, and it won a bankruptcy court’s approval to go through with the going-out-of-business plan.
