Worthington Sports Center slated for closure - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
October 20, 2019 Newswires
Share
Share
Post
Email

Worthington Sports Center slated for closure

Daily Globe, The (Worthington, MN)

Oct. 19--WORTHINGTON -- Jim Klinkenborg, owner of Worthington Sports Center, has worked for decades to make his business as successful as possible, but now faces the likelihood of closing his doors due to insurance and tax difficulties.

Klinkenborg began working for the business in 1971 and took over ownership of Worthington Sports Center in 1991.

Over the years, his inventory of motorcycles, ATVs, snowmobiles and other equipment has migrated toward the used market. Recently, he said, banks have grown hesitant to finance used inventory, leaving him in a bit of a bind trying to find insurance.

On top of that, Klinkenborg added, "taxes are too high. I don't mind paying taxes, but when they go up $4,000 in a year, it kind of hurts."

Combined with those factors, the struggling farm economy has left Klinkenborg's personal finances a shambles.

"Everything that could go wrong did go wrong," Klinkenborg said. "I don't want to quit," he added, "but they're (the bank is) kind of forcing me out of town."

Klinkenborg said his bank gave him six months to pay off his debt or sell his property, after which the four buildings he owns will go into foreclosure.

Worthington Sports Center comprises the old retail building, built in 1944 at 717 Oxford St. which is lately used for storage; the new retail building at 703 Oxford St.; and two warehouses behind the retail buildings.

Although the old retail building would need either serious repair and renovation or complete leveling, Klinkenberg said the location is ideal for any business to set up shop. The new building is 8,960 square feet in size and is ready for a new owner to move in.

"All my life I've tried to help people," Klinkenborg said. "But I would never ask for help."

He remains hopeful that his finances will work out and he'll be able to stay open for business.

___

(c)2019 The Daily Globe (Worthington, Minn.)

Visit The Daily Globe (Worthington, Minn.) at www.dglobe.com

Distributed by Tribune Content Agency, LLC.

Older

North American Headlines at 9:53 p.m. EDT

Newer

Medicare fraudsters now tap telemedicine in scams

Advisor News

  • CT governor’s candidates claims: What’s true, and what’s misleading
  • Retaining clients by giving them a memorable experience
  • Addressing the longevity paradox
  • Employers shift focus from retirement access to financial outcomes
  • Helping widowed clients navigate their new financial reality
More Advisor News

Annuity News

  • Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
  • Symetra and TIAA Announce Launch of Mariner Re
  • Jackson Launches Suite of Fixed Index Annuities Focused on Accumulation
  • Farm Bureau P&C insurers post first underwriting gain since 2021
  • Legacy Marketing, Malibu Life launch two fixed indexed annuities
More Annuity News

Health/Employee Benefits News

  • Study: Colorado’s Medicaid covers more services than private insurance
  • Studies from Northwell Health Describe New Findings in Managed Care (The Relative Value Scale Update Committee: Understanding How Dermatologists’ Work Is Valued): Managed Care
  • Hofstra University Details Findings in Managed Care (A University and Community Partnership to Address Diaper Insecurity Among Infants in Suburban Communities Through Home Visiting Services): Managed Care
  • Reports Outline Managed Care Study Results from Brown University School of Public Health (Organizational Perspectives on Access to Care Among Persons With End-Stage Kidney Disease After Enrollment in Medicare Advantage): Managed Care
  • Reports Summarize Managed Care Study Results from Marquette University (Nontraumatic Dental Emergency Department Visits and Follow Up Dental Care Among Wisconsin Medicaid Beneficiaries): Managed Care
More Health/Employee Benefits News

Life Insurance News

  • Data on Critical Illness Detailed by Researchers at Shanghai University of Finance and Economics (Does the Mobile Application Sales Channel Strengthen Insurance Inclusion? Evidence From Critical Illness Insurance): Disease Attributes – Critical Illness
  • Northwestern Mutual announces record $10B dividend payout
  • South Carolina, Atlantic Coast mediation fails to resolve reserving dispute
  • Life insurer ordered to stop selling policies in Virginia
  • Symetra and TIAA Announce Launch of Mariner Re
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.