Meyers Implements to close after 71 years

An opprotunity for Chambersburg Farm Service to become a major player again.

This is just the beginning of small to medium sized businesses closing and people being out of work. When banks will no longer lend short term to cover payroll or accounts payables there is no choice but to shut the doors. When a major play like Ford or General Motors cannot make payrool one week, people will notice.

thats exactly the truth "oh oh". my business is going the same way and no one cares...

local business wrote:

thats exactly the truth "oh oh". my business is going the same way and no one cares...

Is it due to the inability to get a loan?

Or is business just off?

Oh Oh wrote:

This is just the beginning of small to medium sized businesses closing and people being out of work. When banks will no longer lend short term to cover payroll or accounts payables there is no choice but to shut the doors. When a major play like Ford or General Motors cannot make payrool one week, people will notice.

If Ford and GM can't make payroll, there is a bigger problem than just not being able to get a loan.

Welcome to the corporatizing of America folks.

Many businesses, mine included, depend on short term loans from the bank. If you come in and spend $1,000 in cash, I have $1,000. If you use a credit card, the bank 'loans' me the $1,000 until it clears, you get and pay your bill. The money is not mine 100% for 180 days. If I sell to another store or account and they have 30-90 days to pay, I am waiting on that account before I can put that money to work again. 30-90 days terms are over, and those customer are not pay and not buying. Sales were down six months ago but it takes a while for all the factors to make an impact. The banks no longer lending and calling in notes on inventory or lease rates is making an impact. Imagine going to Giant Sunday and they would not accept your credit/debit card. Cash only. Or Sheetz. If you are paying $300 a week for gas, many put it on credit cards until times got better. Imagine cash only. That is the impact of the bank saying no short term loans. No credit card transactions is a very real possibility. GM & Ford have both said they are not going to file for bankrupcy. No need to worry about the stock you own, the warranty on your car, your pay, vacation, benifits, health care or pension if you work for them. Yeah right! There are small cities filing bankrupcy and laying off police, fire, schools and employees. They are asking the townspeople to pitch in. We are pretty insulated here, but when it hits, it will hit hard, and we take longer to recover in this area. Remember when Letterkenney laid off? Some people still are not the same.

This is so sad. The Shaull family and the Meyers staff were the best to work with.!

unknown wrote:

This is so sad. The Shaull family and the Meyers staff were the best to work with.!

...SAD...money and politics....eh...and BAD-Karma??...yada u...eh..

Big box stores find another victim. Sure maybe these stores don't sell all the stuff but they siphon off enough of the items these stores sell to put them in trouble.

We need to support locally owned businesses that provide service. Big box stores can't claim victims without our support.