Equipment and truck rental business Cal U-Rent in Thousand Oaks, Calif., closed its doors this weekend after 34 years in business, the Ventura County Star reported.
Owner Russ Goodenough acquired the business from Dougâ€™s in 1976, which had been in business at the same site since 1959.
Goodenough said he decided to close because at age 70 heâ€™s ready to slow down. He said the decision to retire was helped along by the recession and what he believes are increasingly onerous burdens, financial and otherwise, placed on small businesses by state and federal government.
Goodenough told the Star his lease was about the expire and that he would do better financially to liquidate the assets at a public sale and send the rest to auction than he would by attempting to sell the company.