Littleton-based Dover Saddlery is facing an uncertain future that could result in the closure of its headquarters and the layoff of up to 112 employees.
The company specializing in apparel, saddlery, and tack for equestrian riders notified the state’s Executive Office of Labor and Workforce Development about the possible layoffs in a Thursday letter, saying the company’s fate will depend in part on its success in obtaining funding or selling the business.
If implemented, the layoffs will occur in July, according to the letter. All positions at the Littleton facility would be affected, and none of the workers are represented by a union.
Dover Saddlery did not respond to a WBJ request for comment.
The company’s headquarters is located in a warehouse at 525 Great Road, where it occupies just under 100,000 square feet, according to real estate data firm CoStar. The site is owned by Marvid Crabyl LLC, an entity managed by Marc Foster of Maine.
Dover Saddlery was founded in 1975 in Wellesley by U.S. Equestrian Team members Jim and David Powers. Formerly a public company, the company was taken private in 2015 by a group of private equity investors, according to a company announcement at that time.
In 2022, Chicago-based Promus Equity Partners took full control of the company, looking to expand its retail presence through franchising. Two years later, the company received $15 million in revolving credit from Needham-based Second Avenue Capital Partners.
The company has 30 retail locations across 20 states, selling products for horses and riders through catalogs, online and its stores. Its lone Massachusetts retail location is in Wellesley.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
