Mountains & Rivers, owned by siblings David and Amy Diaz, shut its doors in April after 33 years of being in business. The Albuquerque, N.M., retailer was very active in the local community, but David Diaz told New Mexico Business Weekly in a May 12 article that he could no longer compete with REI, Sportsman's Warehouse and increased Internet competition, especially after a winter with no snow that left winter equipment sales dead on arrival. The Diaz's acquired the store in 2003, and realized an immediate spike in revenue, from $290,000 in 2002 under previous ownership to $340,000 in 2003. But by 2005, sales had dropped to $285,000 and were looking worse this year, prompting the decision to shut down and leave Albuquerque without a boutique specialty outdoor retail store. To read the full story, click here.
Imperial Schrade shuts doors after 100 years
The investors behind Imperial Schrade surprised even the company's executive management by shutting its doors on Friday, July 30. Just like that, 250 workers in the town of Ellenville, N.Y., were out of work. This came on the heels of a layoff of 120 individuals in December 2003. ...read more