Monday, January 11, 2010

100-Year-Old Businesses Lost in 2009

According to CNN more than 45,000 businesses closed their doors for good in 2009, including some that survived for longer than a century. They profile six of these historic companies that vanished, including a candy company and several retailers in businesses as varied as school supplies, food and a department store.

I just heard from a friend that the century-old independent bank for which he had been a board member is being acquired. These economic times are tough on many companies, but it is particularly sad to see these old companies with all their history go away. For many customers and community members, it's like losing an old friend. (One owner reports that he is still receiving condolences from area residents about the store's closing in August.)

It is my hope that identifying common success factors of those century-old companies that do survive might help other companies weather tough times.

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