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The economic downturn is hitting local stores especially hard. Saddest among those affected are the decades-old establishments suddenly facing bankruptcy or liquidation. Recent news affects a variety of beloved and longtime stores around the country:

• Washington, D.C.'s Apartment Zero is closing its District location after 10 years in business. The owners vow to continue online and may open another location, but in the meantime, the items in store are being liquidated.
• Out in Billings, Montana, Sutton's Sportswear is closing, two and a half years after its original owners sold the store. Sutton's, which made its own line of clothes, had been around since 1981.
• Aurora, Illinois' Montgomery Ace has started its going-out-of-business sale. The store, which had been a go-to for hardware and housewares, had been operating since the 1970s. [added 2:09 p.m.]
• And in Decatur, Illinois, 121-year-old Wyker's Toys closed for good on Tuesday. Wyker's had been family-run since 1888, when it first opened as a hardware store. The owners cite the economy and changing shopping habits as contributing to the store's demise.

Genmar Holdings, which manufactures 13 different boat brands, filed for bankruptcy thanks to the credit crisis. As recently as last month the company had no expectations of a bankruptcy filing. Genmar's boat brands include popular lines such as Triumph, Windsor and Ranger.

Here's a twist: the ownership group of the Phoenix Coyotes of the National Hockey League filed for bankruptcy as the first step in a potential sale of the organization. The Coyotes claim to have lost money every year since arriving in Phoenix in 2001.

The team hopes to be purchased by the CEO of Research in Motion, makers of the BlackBerry, who will probably try to relocate the Coyotes to Canada. The NHL, meanwhile, was taken by surprise, and is "investigating the propriety of the bankruptcy filing" and the terms of the sale.

All locations of sports card and memorabilia store BC Sports have closed for good. The chain had more than 50 stores across 12 eastern states as recently as last week. BC Sports' parent company filed for bankruptcy last fall, and announced plans to close roughly a quarter of its stores, but the entire chain has shut down instead.

The economic downturn is hitting local stores especially hard. Saddest among those affected are the decades-old establishments suddenly facing bankruptcy or liquidation. Recent news affects regional chains with long histories:

• In Charleston, Luden's is closing its doors. As its website states, "established in 1867 as a ship's chandler, J.J.W. Luden's is the oldest retail establishment in Charleston." Its owners cited an expiring lease as the main factor in the decision to close, along with economic conditions. (Timely Demise finds this odd--Luden's surely endured many other expired leases and tough years over the past 142 years.)
• Specialty retailer The End Result in State College, Pa. is closing after 38 years. Downtown State College has seen numerous retailers depart in recent months, like many town centers, although its economy is buoyed somewhat by Penn State students.

The 129 Boater's World stores in 27 U.S. states are being shuttered. Parent company Ritz Camera Centers Inc. (who knew?) filed for bankruptcy protection last month, and is attempting to raise cash by liquidating the boat stores' inventory. The company will also close 400 of its 800 camera stores.

The credit crisis has impaired Sportsman's Warehouse, a regional outdoor-products retailer in the west. The company is selling 15 of its 67 stores to UFA of Canada, but UFA has not closed the sale. As a result, Sportsman's Warehouse is experiencing a liquidity crisis, and must close 23 of its remaining stores. "We are now a 29-store chain," says CEO Stu Upgaard. The store closings affect a wide swath of states from Idaho to Mississippi.

The economic downturn is hitting local stores especially hard. Saddest among those affected are the decades-old establishments suddenly facing bankruptcy or liquidation. Recent news affects regional chains with long histories:

• Cincinnati: luggage store Bankhardt's is closing. The store is 130 years old and has inhabited the same location since 1935. The business owner sold the building and is moving on. Interestingly, three splinter stores with the same name will continue to operate.
• The 16-store jewelry chain Robbins Brothers filed for bankruptcy after struggling during the recession. Robbins Bros' history dates to the 1920s, in Seattle, before moving to California and ultimately expanding to four states.
• In the Pacific Northwest, Joe's Sports and Outdoor is operating during a restructuring. The 30-store chain is owned by a private equity firm that filed as a strategic move. Joe's first opened in 1952 as a military surplus store.

Well, at least one thing is consistent in the recession: the New York Yankees can still spend with abandon. With their signing of first baseman Mark Teixeira to an eight-year, $180 million contract, the Yanks now possess the top four highest-paid players in baseball, at a total commitment of more than $800 million.

Unlike, say, Goldman Sachs, these salaries don't get absorbed by management fees; the costs are, in part, passed to consumers. To that end, the Yankees--who recently sought $350 million in public financing before spending $421 million on free agents--are raising ticket prices for next season. The price increases reflect the new Yankee Stadium, which is nearing completion, as well as the player expenses. Nearly half the stadium now costs more than $45 a ticket.

KiS Golf, which operated indoor golf facilities in six states, converted from Chapter 11 to Chapter 7 bankruptcy this week and is liquidating assets. The shift in plans surprised many people, including irate customers with pricy membership plans.

The economic slowdown affects family-run, local businesses as much as it shakes publicly traded companies. A pair of long-time establishments announced closings this week:

• Modern Metal Products, an auto parts supplier dating to 1946, filed for Chapter 11 bankruptcy. The company expects to shut down; it found a willing buyer, but the buyer was able to arrange financing to complete a sale.
• John Wilson Sporting Goods, a Cedar Rapids-based retailer also in business since 1946, is closing its doors at the end of the year. Current economic conditions prohibit the owner from signing a new lease. Sadly, owner John Wilson is quoted as saying, "I can't see somebody wanting to start a locally-owned sporting goods store."