After four decades in business, Paul & Tony’s Stereo in State College will close or be sold as its owners announced plans to retire.
Owners Paul Newfeld and Tony Walczak said in a statement on the business’s website that they plan to retire this year and that they are holding a retirement sale with discounts on existing inventory. A sign in the window of the store at 1341 S. Atherton St. stated that the store would close or be sold by August and that a determination would be made in the coming months.
Newfeld and Walczak could not be reached for comment on Monday.
‘After 41 years in the consumer electronics business we, Paul and Tony, are announcing that we are going to retire,’ the statement said. ‘We are looking forward to leisurely travel, fishing and more fishing. We thank the entire community for their loyal support and patronage over these many years and sincerely appreciate the hundreds of valued friendships.
‘Our thousands of customers represent the best of State College and the Centre Region.’
Even though they are retiring, Newfeld and Walczak said they hope a new owner will continue to keep Paul & Tony’s Stereo as part of the community.
‘We all hope that Paul & Tony’s Stereo will continue to serve the local community and Central Pennsylvania,’ the sign in the store window said.
The pair met at Ohio University in Athens, Ohio in 1968 and opened their first store there in 1977. In 1981, they opened a business on West Beaver Avenue in State College. When their Ohio store was lost in a fire in 1983, State College became the permanent home for Paul & Tony’s Stereo.
Over the years, the business evolved and its locations in State College changed. Paul & Tony’s moved to South Burrowes Street in 1984 and spent more than 20 years there, offering stereo equipment and car stereo installation.
As the market for technology changed and sales of traditional stereo equipment slowed, they shifted focus to home theater and high definition television products and installation. In 2005 they purchased a building and moved to 1321 S. Atherton.
With a downturn in demand, they shut down the car stereo installation part of the business after 37 years.
In 2013, Paul & Tony’s made a short move next door to 1341 S. Atherton St., where they expanded their high-definition television offerings and added to their installation services to include wireless audio. With a revival of interest in vinyl records and vintage audio equipment they added a used and vintage audio department at the retail location and through the business’s eBay store.
Newfeld and Walczak plan to remain in the area.
