Pollock's Hardware on Main Street was opened about 100 years ago – in 1922. However, it may not celebrate its 100th anniversary.
Board of Pollock's informed that the business is no longer economically viable and the closure of the store is the only right decision. Co-op members will meet next week to take the final decision by voting.
"Despite everyone's best efforts, the co-op has been struggling to pay its bills for a number of years. Anyone who attended a recent AGM and has seen the financial statements should not be surprised at this news," the board of directors wrote. "Although it is tempting to want to fight on, to struggle to the last dollar, we must realize that our decisions have consequences. Our staff need to be paid, the government requires source deductions, and we have suppliers who have provided product or services in good faith."
The board says that Pollock's Hardware on Main Street exceeded all expectations because it exists twice longer than all young enterprises now.
However, Mike Wolchock, who served as general manager of the co-op until last year, said he is completely against the ideas of the closure.
"I'm totally opposed to this. I think it's a pretty hasty decision," said Wolchock. "I think that there're other options that could happen for the co-op, and there're quite a few people that are actually interested in stepping up and doing something about it."
The former manager believes that the closure of Pollock's Hardware on Main Street will devastate the community. A lot of people who live near it used to come if necessary and not to go far to find similar stores.
At the moment, the only way to save the business is to attract people who can invest in it.