Livingston Mercantile (community-based, community-owned and community-shopped) closing in on funding goal. Investors still sought

The opening of a new clothing store in Livingston will not take place before school begins as company officers had hoped, but they said they are making good progress acquiring the funds to launch the enterprise.

Since its open house in April, The Livingston Mercantile has raised $310,000 selling common stock, according to Doug Truex, Co-President of The Livingston Mercantile.

By Tahlia Ganser, Enterprise Staff Writer

When the funds, which are being placed in an impound account, reach $400,000, they will be used for buying merchandise for the community-owned department store. The Mercantile group is $90,000 short of what it needs to begin purchasing clothing, said Truex.

The fundraising “is rapidly under way,” he said.

The Livingston Mercantile will be “a family clothing store selling products at retail to the general public,” the company’s prospectus states. “The store intends to sell men’s, women’s and children’s clothing, including shoes, socks, underwear, coats and outerwear as well as accessories.”

The Mercantile is selling $500 shares, limited to 20 per person to ensure no one has control over the company, said Truex.

“It’s community-based, community-owned and community-shopped,” said Bob Ebinger, vice president of the Mercantile board. “It is by, for and of the community.”

The Livingston Mercantile will fill a void in the Livingston community and will help Livingston be self-sustainable, according to Ebinger.

The store is modeled after eight others like it around the Northwest. It is designed to bring money into the community rather than sending it to box stores in Bozeman, said Truex. Mercantile officers do not believe the smaller, locally owned, downtown businesses that sell clothing will suffer, because they are competing on different levels. The Mercantile, which will be located at 120 S. Main St., wants to increase traffic to downtown stores, not take away business.

The Livingston Mercantile has raised its money faster than any of the other similar stores in the Northwest, said Co-president Dave Viers.

For a prospectus and information about purchasing stock, call Doug Truex (222-2288), Dave Viers (222-7722), Bob Ebinger (222-0438), Sharon Walker (222-0773) or Victor Robbins (222-2950).

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