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Home » Inflation, rising costs force 100-year-old store’s closure
A cornerstone of downtown Kennewick

Inflation, rising costs force 100-year-old store’s closure

Christopher Ingersoll is the fourth-generation owner of Farmers Exchange in downtown Kennewick.
Christopher Ingersoll is the fourth-generation owner of Farmers Exchange in downtown Kennewick. Ingersoll bought the business from his uncle, Keith Silliman, in a deal that closed Oct. 1, 2021.TCAJOB file photo
July 1, 2024
Sara Schilling

An iconic downtown Kennewick business has shut its doors after 100 years.

Farmers Exchange, which had a full-service nursery, equipment dealership and repair shop off West Canal Drive, officially closed July 1, owner Chris Ingersoll confirmed. However, it reopened temporarily in the days that followed for a liquidation sale.

“It’s obviously devastating to be in this place,” Ingersoll said, noting that he’s been flooded with well wishes from the community after announcing the closure.

The staff of about 20 people has been understanding, he said.

Ingersoll is the great-grandson of one of the store’s original owners. The business started in 1924 as a farm and feed shop, and while it’s evolved and changed in its 100 years, a throughline has been an emphasis on doing right by customers, Ingersoll said.

“Our signature has always been the best possible customer service. I think that’s the legacy we leave down here,” he told the Tri-Cities Area Journal of Business.

Ingersoll came on board as the owner in 2021, buying Farmers Exchange from his uncle Keith Silliman. Last year, he added a Richland location that’s now also closed.

Economic factors

Ingersoll said economic factors led to the decision to close.

“The economy has been getting progressively worse each year since I purchased the business,” he said. “People are buying a lot less because of inflation. The equipment industry, in particular, has been struggling across the board.”

Those factors coupled with rising costs have meant instability, he said.

Farmers Exchnage exterior.jpeg

Farmers Exchange, which had a full-service nursery, equipment dealership and repair shop off West Canal Drive, officially closed Monday, July 1.

| TCAJOB photo

When he announced the closure on social media, customers and downtown businesses chimed in with comments about the difference the store has made.

“We’re gutted to hear this news,” wrote Hot Mess Burgers & Fries. “You’re like family to Hot Mess and everyone on our block. Thank you for your decades of dedication, love and service to our community. Our lawns and farms won’t be the same without you.”

Ice Harbor Brewery added that, “as our longtime up-the-block neighbor, we can’t imagine the downtown Kennewick landscape without you in it. Very sorry to hear this. Thank you for all of the beautiful flowers in our planters and many years of shared community.”

Ingersoll said he’ll be reaching out to customers who have orders out and equipment in for repair.

It’s hard to see Farmers Exchange close, he said, but he’s glad to have been part of its legacy. “Mostly,” he said, “I feel really grateful to have to have gotten the store to 100 years and to have run the family business, even if for a short time.”

    Latest News Local News Family Owned Retail
    KEYWORDS July 2024
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