End of Life Cycle
Some businesses have long lives others short ones. The question is always: Why after 114 years….does a business finally shut down?
In Kingman’s case….I suspect the market no longer existed for very high-end furniture in Western Michigan. Along with a move to a different location….maybe new management….Klingman’s could no longer survive. That’s not to say that high-end furniture doesn’t have a market….it’s just not as large as it was in the past.
Businesses have to adapt….some can….some don’t and for some they don’t have to. That’s why manageing and running an enterprise can be as challenging as rocket science.