Quote - "As of today July 07, 2015, we are closed. Due to circumstances beyond our control, the stockholders had to close and declare insolvency." - end Quote.
Stockholders had to close? So this business was not privately owned? I wonder since there have been many cases where small to medium sized businesses that were owned by a corporation were either sold off or shut down, even if they were making a small profit.
I wonder what the actual case is with this business? Rising taxes due to their location? Increasing liability insurance? Past frivolous litigations?
Just wondering behind the keyboard but from my understanding, California's business tax structure, high rental rates in metropolitan areas, and insurance regulations are not friendly to small businesses with small profit margins.
"I like my Pullman Standards & Budds in Stainless Steel flavors, thank you!"
Too bad. Another sad sign of the times I guess. I'm sure there will be more.
Dave
I'm just a dude with a bad back having a lot of fun with model trains, and finally building a layout!
Allied Model Trains, one of the Los Angeles area's oldest and largest model railroad hobby shops, has just closed, effective today.
Allied originally opened in 1946 in the West Los Angeles area, with a large, highly-stocked store on Pico Boulevard as their longest storefront. In 1989 they moved to nearby Culver City, to a custom-designed building fashioned after L.A.'s Union Station. In 2007, the store's owner Allen Drucker sold the store and leased the Union Station-style building to local photography retailler Samy's Camera. Allied was purchased by the owner of former competitor The Original Whistle Stop in Pasadena and moved to a smaller storefront just across the street from the Union Station-style store in Culver City where they have been since.
The store's proximity to the entertainment industry made it a popular store for model railroading celebrities like Frank Sinatra, Rod Stewart and Gary Coleman.
There is no closing sale; the store's stock is expected to be moved to The Original Whistle Stop in Pasadena.
Their website currently reads:
Dispatched from Allied Model Trains, Culver City, California
July 7, 2015
It’s with great sadness we send this message to our friends, customers and vendors.
As of today July 07, 2015, we are closed. Due to circumstances beyond our control, the stockholders had to close and declare insolvency.
We had sixty-nine wonderful years and we are sorry the journey has to end.
All of us at Allied Model Trains, Nick, Fred, George, Karie, Sam, and Dave thank you for all the years of support.
Allied Model Trains