News
Hopetoun Hardware
Hopetoun hardware store forced to close
Posted Fri Jun 5, 2009 2:28pm AEST
The South Coast town of Hopetoun has reported its first major business collapse since the closure of BHP Billiton's nearby nickel operations.
The owner of the local hardware store says he has been forced to close because his turnover had dropped 90 per cent since BHP announced the shutdown in January.
Tim Nolan says he set up the business to cater for the influx of mine workers and the increased activity.
Mr Nolan says his family is in limbo, waiting to find out whether BHP plans to reopen the mine.
"We're just waiting for a decision from BHP to let the community know and especially business owners know what our future is," he said.
"Do we just hold on and go into more debt, persevere and go into more debt or do we just shut the doors before we get out and find out that they won't open it again."
The President of the Ravensthorpe Regional Chamber of Commerce, Rick Besso, says other businesses will follow.
"Tim Nolan and Hopetoun hardware Store is the first local significant business to close down, it certainly won' be the last," he said.
"But it indicates the pain and the pressure the local community is feeling as a result of the downturn in the local economy."
Tags: business-economics-and-finance, company-news, industry, mining, albany-6330, bunbury-6230, hopetoun-6348
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