How many businesses have you seen go under recently?

[StorminN]

I've seen a few small businesses go under in the past year. The first ones to go were the small contracting / building companies... this was last fall. The good, established contractors are still working, doing OK. Then it was the big plywood mill in the next town over... that was over 100 employees. Some of the other mills are still on layoff, but supposedly "not permanent". Then this spring, one of the gas stations went out of business, and one of the restaurants (but restaurants seem to come and go).

Now it's getting closer to home... my friend's Dad owns an RV dealership... I was gone on vacation last week, and came back to town this week and noticed that his RV lot was nearly empty. I talked to my friend and asked him what was up, and he said that the bank took them all back... it looks like they're closing up shop. It's hard to see friends go through this sort of thing.

At the same time, I've noticed a few new businesses open up in the past few months. A new feed & grain place opened up, a new furniture store (chain store), and a new hobby shop. I can't see a pattern to it.

So, I was just wondering, have any of you seen a higher-than-normal amount of small businesses go out of business lately?

-Norm.

[Riles]

I'm in the middle of building my own house using the UbuildIt franchise as consultants. Got about a week's notice that they were closing the office because of the construction slowdown. I still get access to the foreman for advice.

[Ironwood]

There are way more closings than any of us know. Most disconcerting are the BIG manufacturing co's going out. I see one large co after another downsizing, outsourcing, or closing outright. We have had a loooong history since the 1970's of mill closings (heavy industry)in my hometown region. Today many "not so heavy" industries are moving overseas or closing doors. I describe it as a "hollow" economy, all service and little manufacture. The good news is, if fuel continues to rise, local, regional and things generally produced here on our soil, will have a competative advantage of sorts. Thatis if we can do it without paying employees $25 hour plus benefits. There is always a shuffling of businesses in market economy, that just how it is. This makes those surviving stronger and better off for it.

Ironwood

[WH_Conley]

In the last year or so we have lost one pallet mill and four saw mills with two more just hanging on, within 20 miles or so. Two restaurants gone, another barely surviving.

[Larry]

Arkansas National Bank in NW Arkansas went under couple of months ago.  Two more area banks are on the Feds watch list.  Problem was this area is one of the fastest growing regions in the US and the per capital income is high.  All of the banks were over extended on real estate loans...not the sub-prime mess but high dollar gated subdivisions and houses.  The housing bubble burst and a lot of builders and developers went belly up last year, taking at least one bank with them.

We still have a lot of moderate priced spec houses being built by conservative builders...they seem to be clicking right along and most houses are sold before they are completed.  I don't see any spec houses being built in the upper price ranges...for good reason.

I'm surprised not seeing any boat dealers or RV dealers going under yet.

It's not all gloom and doom...were on the edge of the Fayetteville shale play.  The state is predicting something like 12,000 high paying new jobs in the next few years iffen I remember correctly.  Got a new pipeline manufacture starting to build.  Just have to see how it pans out.

[SwampDonkey]

Several sawmills have temporarily or permanently closed. One sawmill announced it won't reopen unless it can source 70 % of it's timber from private woodlots. I think it will remain closed if the price remains below stove wood prices. Not much of an incentive to cut wood. Add to that a lot of woods crews have moved on to other things.

Some sawmills are investing in upgrades with the help of the government dole again.

A province wide John Deere dealership failed up last year, another operator from PEI has taken up the reins since. A Kabota dealership changed hands this spring. The Toyota dealerships are going supersized now, they used to run tiny shops here. Now you drive the car inside the garage before getting out, then take a seat in a plush lounge chair after visiting the counter inside.  :

They keep building fast food joints around the small towns such as Subway, Tim Hortan's, Smitty's etc...  Some restaurants going up are too posh for the local economy and live a short life. Mini malls continue to be built, the most popular stores are the Dollar stores. Large malls in some towns have struggled for years. They built a Walmart in one small city 6 years ago, only to close it up months later. A lot of old stores are closing as the old folks are giving up their business, some folks running them are in their 70's and 80's, no buyers.

Small garages change hands or close, others are very successful. Small engine shops seem to be thriving.

One credit union was baled out because of bad loans a couple years ago. Still never heard all the details but there was some questionable transactions or practices there.

[Ron Wenrich]

The local Chevy dealer went under.  GM called one day and said they were out of business on the following Monday.  They sold 1 car in March, and were done by April.  In business for something like 75 years.  They were solvent, GM isn't.

We had one mill burn down and won't be rebuilt.  Owners are on the far side of 50, so the economy just doesn't support it.  Another mill went out, but he has been going out for the past 10 years.  The slowdown just made it happen.  The local sawmill equipment dealer has shut down one of his shops.

Some places are slow, but I don't see too much shutting down, yet.  Some of the truckers have parked their rigs.  A couple of trucking companies have shut down, and a few others are supposedly on the verge. 

[SwampDonkey]

Yeah, one trucking company here closed it's doors. Said the truck drivers were the only ones going home the end of the week with pay in their pockets and still asking for more.

[WildDog]

I was listening to a couple of truckers on the 2-way yesterday talking about what truck opperations were in receivership down here there were some big names going under, due to fuel costs, we are on $1.70 aud a litre about $6.80 a gallon.

Our last 2 hardwood mills in town closed in the last 2yrs and just about all the mills on farms outside town have closed due to Occupation Health and Safety rules and insurance.

We have 6000 people in town and 3500 on farms, we are about to get McDonalds, Subway and a new supermarket and there is a fuel station with 200 seat restaurant nearing completion at the detriment to our smaller opperaters, one has already layed of all counter staff and gone automatic. Investors are rating Glen Innes as one of the 2 best towns in the state to buy property as it is undervalued and ready to spring ahead. I don't like big towns so within 2 years I hope to sell up and move further out, hopefully our hardwork pays off and we realise some decent offer for our farm. In our shire you need approx 600 acres to be permitted to build a house unless you front bituman and then its only 50 acres.

[Toolman]

read an article last week that stated over 3000 trucking companies have folded up so far this year. That includes truck owners who employ 3 or more drivers. All due to high fuel prices and slowing economy. Darn shame.

Had a fuel oil company up the road lay off 5 employees in one week. He told me he'd been in business for 35 yrs., never had to lay off anyone, now he has to let 5 off at one time.