Small businesses in Springfield announce closure plans

Springfield Business Closure

Several small businesses in Springfield, including Armbruster Manufacturing Company, Remarkable Resale, and Mosser’s Shoes, have announced closure plans due to increasing competition and supply costs. These closures significantly impact the locale, with job losses, a reduction in consumer choice, and pose tough challenges for small businesses grappling with globalization and digital innovation.

Despite these adversities, city officials, and local business groups are providing support wherever possible to prevent these from happening. Financial assistance, marketing support, and other resources are being arranged to keep these businesses afloat. However, the future remains uncertain with the companies considering contingency plans such as merger possibilities and online sales initiatives.

All these businesses, however, are united in their sentiment – a love for Springfield and a desire to contribute to its prosperity. The Piercy family, Mosser’s Shoes owners for 32 years, view their store closure as an opportunity for change rather than setback.

After serving the community for decades, the family is excited about exploring different ventures with the knowledge and experience they have gained.

Springfield’s small businesses confront closures

Despite leaving their longtime storefront, they promise to remain part of the Springfield community, assuring their future ventures would be as rewarding as Mosser’s Shoes has been.

In the face of rising rent costs, the Piercy family’s focus is now on their remaining store in Champaign. They are looking forward to maintaining their presence in the community by implementing new strategies while sticking to their core beliefs. Aware of the inconvenience their closure might pose to their loyal customers, they extend an apology, hoping their Champaign store continues to prosper.

Mike Murphy, Chamber of Commerce President, expressed his disappointment over these closures, citing rising inflation and large franchise competition as significant challenges. In a call to action, he urged residents to shop local whenever possible and asked the government for policies easing the affected businesses’ financial burdens.

Murphy believes thriving local businesses are essential for a resilient economy and despite current setbacks, he remains optimistic about their ability to bounce back. In line with this, he vowed that the Chamber of Commerce would continue their relentless efforts to advocate for and support the local business community.

Mosser’s Shoes reiterates that normal operations will continue until inventory runs out, underscoring the difficulties pointed out by Bureau of Labor Statistics data, showing just 25% of new businesses survive past 15 years. Despite impending closure, Mosser’s Shoes assures undeterred commitment to customer satisfaction until the very last is sold.