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A beloved equestrian retailer is being put out to pasture.
Dover Saddlery, one of the country’s best-known sellers of riding apparel, horse equipment, saddles and tack, is preparing to launch going-out-of-business sales across its remaining stores unless a last-minute rescue deal comes together,according to the Boston Globe.
The 50-year-old company had about 30 stores around the country, including California locations in Moorpark and Moraga.
The chain’s elite Laguna Hills and Sacramento stores are already closed.
Boston-based restructuring firm Gordan Brothers acquired Dover in late April and is preparing liquidation sales if it cannot find a viable deal to sell some or most of the company, the Globe reported.
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Dover has not filed for Chapter 11 or Chapter 7 bankruptcy,according to TheStreet.
The company’s financial struggles became public earlier this month when it filed a Massachusetts WARN notice saying 112 workers at its Littleton headquarters and distribution center could be laid off between July 7 and July 20.
The notice said the closures would depend partly on whether Dover could find funding or sell the business.
Source: California Post – Breaking California News, Photos & Videos
