Valley Hardware, an 86-year-old hardware store in San Juan, Texas, closed its doors on Nov. 9, according to an article in The Monitor. The owner cited economic pressure from the recession, competition from big-box chains, a change in consumer shopping habits, and onerous business taxes and fees.
Valley Hardware rang up 1,454 purchases last month, with an average ticket of $8.35, according to owner Mike Hempel.
The city’s Economic Development Corporation offered Hempel a loan, but he turned the agency down.
"I don’t want the loan because I can’t pay the loan back," he said.