Economy takes toll on Island Lake mainstay

Island Hardware owner Stan Livermore said that if business had been half as good in the last 24 months as it was Thursday, he wouldn't be holding his store closing sale.

"It's the economy," he said. "Our sales are down about 35 percent since 2007 and we just can't cut back any more to make ends meet. It's time to close."

Livermore said that when the shelves are empty and the backroom barren, he will lock the doors for the last time.

The closure will leave Livermore and his 12 employees jobless in this tough economy, he said. And it will leave the residents of Island Lake without what's become a Route 176 mainstay over the past 26 years.

Debbie Myers, administrator of the Island Lake Chamber of Commerce, said she is shocked because the business has "always been here."

"It's a sad day when a business rooted in town for so long shuts down," she said. "I'm really sorry to see them go. It was always so convenient for everyone to have them here. It's just a real shame."

Livermore bought the store from the original owner in 2002. For awhile, business was brisk.

"We saw a steady increase in sales in the first five years," he said. "But, since the recession, we have seen sales drop steadily to the point we just couldn't do it anymore."

The reversal of fortune has been quick. It was only two years ago that Livermore owned two hardware stores in Lake County. The Antioch Tru-Value closed in January 2008.

He blamed the presence of Wal-Mart, Menards and Home Depot for the demise of that store, saying he lost more than 40 percent of his business after the big box retailers opened nearby.

Now, for the first time in more than 25 years, Livermore is out of the hardware business.

"This is definitely tough. I first started in Antioch in 1983 when at 24, I bought that store," he said. "After that store closed, we were anxious to make a smaller store here where we could develop relationships and be a part of the community. It was great for five years, then boom, the bottom fell out and we couldn't cut costs anymore."