Wednesday, January 06, 2010
The United States lost 45,000 businesses in 2009, including some that had been around for more than 100 years. CNNMoney.com featured a half dozen of the centurys-old companies that went under last year.
Holcomb’s Education Resource of Cleveland, Ohio, was founded in 1872 to sell school supplies by mail order. Competition from chains like Staples got to be too much for the small business.
In Edinburg, Virginia, Irvin Candy Co. closed its doors after first opening them in 1884.
Lipsitz Department Store, the oldest business in Beaufort, South Carolina, stopped selling clothing and accessories after 102 years in business.
Loss of business from two local colleges and a change in street traffic did in Conkey’s Bookstore of Appleton, Wisconsin, which first opened in 1896.
In addition, on December 31, Editor & Publisher magazine, “the bible of the newspaper industry,” suspended operations after 125 years.
-Noel Brinkerhoff
U.S. Losing Century-Old Businesses (CNNMoney.com)
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