HOISINGTON — The current owner of Cheyenne Hardware in Hoisington is selling the business. If the business is not sold, it will be closed.
Effective Sept. 9, Cheyenne Hardware, Hoisington, will begin formal solicitation of 12 investors at $5,000 each, and the current ownership will retain eight shares. If received, the investment capital will be used to pay off an outstanding bank loan and accounts payable to the hardware wholesaler.
Future management decisions will be made by simple majority vote of outstanding shares. If the solicitation is unsuccessful, liquidation of this +60 year institution will begin Nov. 12.
"Our analysis points to a sustainable business," said Rodney Harms, president of Civitas Group Holding Company.