Well, some very bad news on the pending sale of our business. We thought it was all done, with a financing proposal from three NH economic development groups in hand. Our buyer, a disabled vet with three tours in Afghanistan, accepted the proposal and we were all just waiting for a final approval. On Friday he received an email telling him the proposal was withdrawn and no loans would be made. All parties involved are very upset and disappointed right now. My very dedicated broker will try to get a deal put back together again next week but, quite frankly, Im not optimistic. We had all thought that, given the economic impact our store has on our little town and the surrounding area ... and the fact that our buyer is a decorated and disabled vet ... some consideration would have been given. That, sadly, does not seem to be the case. Right now, Sandy and I are still trying to deal with this news. We did not want to see our 40 year old landmark business simply shut its doors and disappear. So many people rely on this business, both customers and owners of surrounding businesses. But, at this point, no one seems willing to step up and help finance the purchase. My broker says never give up hope, and he will be at it again next week. Still, the likelihood of a final going out of business sale is now far greater than it was only a few days ago. Well have to make that decision very soon and, if it must be done, well probably run a 10% off sale on everything starting in December until theres nothing left. Fixtures, counters, gun racks, signage, and all our inventory will be sold off until the store is bare. It will be a sad day for all of us ... we still hope it wont come to that, but things really are looking grim.
Posted on: Sat, 08 Nov 2014 12:56:48 +0000
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