Riverside closing doors

Published 12:42 am Sunday, March 1, 2009

It looks like another local business will be hit in the national economic slump.

Riverside Auto, which has served as a car dealer in Troy for several years, announced Friday they would be shutting their doors — most likely for good.

A decision made Friday morning by the dealer’s owner and Manager Oscar Melghem, will leave the business closed effective Monday.

Sign up for our daily email newsletter

Get the latest news sent to your inbox

Melgehem said the decision was solely a business decision based on current market conditions.

“We’re not going under,” Melgehem said.

This announcement comes after Riverside Auto closed its parts and service department in December, leaving several without jobs.

Now, five more will be looking for new work, Melgehem saidWhile Melgehem said he hopes the business could one day reopen in Troy, that likely is not the case.

“It appears it is a permanent closing unfortunately,” Melgehem said.

Riverside Auto’s closing does not come alone, however, with several of Troy’s other local businesses already announcing their doors will shut.

Troy Mayor Jimmy Lunsford said he isn’t sure just what this means to the city in terms of revenue stream.

“We hate to lose them as a good corporate citizen of the community,” Lunsford said. “I’ve read where there are more than 800 dealerships that have closed in the country. This is a sing of the economic problems.”