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One local roofing business is forced to close its doors, and the owner says the weak economy is mostly to blame.
A-Reliable Roofing, near Academy Boulevard and Platte Avenue, had been operating in Colorado Springs for nearly 25 years. Thursday was emotional for the owners because they had to liquidate their entire warehouse of equipment.
One of the owners, Ernest Wood, decided not to be around during the morning, when auctioneers were selling off everything from office chairs to a forklift. He said that it was not only difficult for him to see items that had cost thousands of dollars sell for a hundred dollars or less, but it also marks the end of an era for his business, and leaves him wondering where to go from here.
"I guess try and see if I can get these four grandkids raised,” said Ernest. “That's all I can do."
In order to sell everything off, A-Reliable Roofing hired an auction service and held a public auction to get rid of all their supplies and equipment. Rich Schur, of Schur Success Auction Services, says they’ve seen more activity lately. “Businesses are closing, and they're finding the only way to recover what cash they can is to sell what they have."
The owners of A-Reliable Roofing say a bad economy and health concerns were the main reasons why the business was forced to shut down. Ernest says that they started the business during a tough economy in 1985, but back then they were able to pull through those difficult first five years. This time, however, they just couldn't make it work.
Auctioneers say they were able to sell off everything from the business, more than 200 items, in just three hours. Representatives from other roofing companies, some from as far away as Wyoming, came out to pick up some deals.
Ernest Wood says he'll use the money raised from the auction to pay back his suppliers.