Closing a business is a difficult time for business owners. It can be logistically challenging to wrap up all the loose ends and ensure the necessary arrangements have been made. It can also be an emotionally difficult time. For many small business owners, their business endeavors are the result of years of hard work and planning. Whatever the reason for closing a business, it’s important to keep all the relevant parties informed through a business closing letter.
Elements of a Business Closing Letter
The kind of information you’ll need to include in your business closing letter depends on who you’re writing to. Depending on your company and line of work, you may need to write to your employees, customers and suppliers or partners. For any letter, you’ll need to include your name and address at the top, followed by the date. Next, you’ll need to include the recipient’s name and address. Choose the appropriate opening salutation based on who you’re writing to and the tone you want your letter to take. There are many ways to end a letter. Your closing salutations should follow the tone of the rest of your message, whether that’s casual or formal.
Main Talking Points in Your Business Closing Letter
The body of your letter will need to include a few important points. Mention that you’re closing your organization, the date you’re closing and who the recipient of the letter can contact for more information after the closing date. Also include any specific product or service information that is important for them to know, such as any closing sales you may be offering. Finally, thank the recipient for their involvement with the business, and inform them of any future plans if relevant.
We will be closing our doors for good on February 28 of next year. If you have any business to attend to after that date, contact Mark Hermann at firstname.lastname@example.org. We'll be holding closeout sales throughout the first two months of the year, including sales on the widgets you have been using for the last four years.
We sincerely thank you for your business and hope to keep you updated with any further developments.
Letters for Those With Special Relationships
If you’re writing to your employees, you may wish to include more specific information about why the business is closing. You may also need to include details about their last paychecks and any human resources matters. If you’re writing to your customers, you can take the time to thank them for their business. You may wish to invite them for a closing night event or a deep-discount sale if you’re having one.
We value each and every one of our employees and know what a hardship this will cause them and their families. We kept this store open as long as we could, but the competition from big box stores simply priced us out of the market. We'll be depositing last paychecks into your accounts next week, and we will be happy to provide glowing references to any of you who need them in your search for a new job.
Joe and Mary Owner
Wrapping Up Business Partnerships
If you’re writing to your supplier or partners, you may need to include information regarding the remaining inventory or supplies and special equipment. It’s always best to keep your business relationships on good terms, especially if you plan on going into business again in the future. You may want to extend a special thank you to your suppliers and partners and let them know your future business plans.
Thank you for the warm and friendly business we've enjoyed over the years. We'll still be purchasing inventory through January, and will be offering any leftover pieces to Jerry's Craft Heaven after that time. We've recommended that he contact you for further stock, as your prices and variety are better than his current supplier.
We plan to look into the online business market in the coming months and will keep you informed of any plans in this area.
Anam Ahmed is a Toronto-based writer and editor with over a decade of experience helping small businesses and entrepreneurs reach new heights. She has experience ghostwriting and editing business books, especially those in the "For Dummies" series, in addition to writing and editing web content for the brand. Anam works as a marketing strategist and copywriter, collaborating with everyone from Fortune 500 companies to start-ups, lifestyle bloggers to professional athletes. As a small business owner herself, she is well-versed in what it takes to run and market a small business. Anam earned an M.A. from the University of Toronto and a B.A.H. from Queen's University. Learn more at www.anamahmed.ca.