Two power-sports retailers recently closed their doors in northern Wisconsin and Minnesota.
Iron River Sports shuttered its headquarters in Iron River, Wis., and its store and maintenance center at Mariner Mall in Superior, Wis., BusinessNorth.com reports.
Facing Wisconsin tax liens totaling $134,000 ($450,000 with penalties and interest), the company saw its assets liquidated in mid-September. According to online Wisconsin court records, owner Dan Kontny also faces lawsuits from Mercury Marine, American Honda, Discover Bank and GE Commercial Distribution Finance Corp.
Nearby Brule River Sports also closed. Its inventory, along with that of Iron River Sports, sold in the same online auction, the website reports.
The latest casualties are far from the first among sellers of motorized equipment, the article notes. In 2008, Crystal-Pierz closed stores in Hermantown, Minn., and five other regional cities.
Other closings include JD's Sports and Repair and Haglun Marine, both in Hermantown; H&H Marine in Superior; Boat Depot in Minong, Wis.; and PD's Sled Shed in Brule.
The recession has been extremely difficult for builders of boats, outboard motors, snowmobiles and motorcycles. Having less discretionary income, consumers are saving their money.