MADISON, WI (WTAQ) - A Wisconsin-based electronics and furniture store is going out of business. Citing five years of an “unforgiving” economy, American says it is closing. The Madison-based company has been in operation for 60 years. Nearly 1,000 employees have recieved advance notice of the closing. The company has 11 stores, a service center and a distribution center in Wisconsin, Illinois and Iowa. Two of the locations are in the Appleton area.