Dover Saddlery, the largest equestrian products retailer in the US, is facing liquidation and said it could close all 30 of its stores unless it secures new funding.

The chain was taken over by its primary lender, an arm of Prudential Financial, before being sold at a discount in late April to restructuring and liquidation firm Gordon Brothers.

Dover Saddlery sells riding apparel, tack, and horse care products from brands including Ariat, Tredstep, Horseware Ireland, The Tailored Sportsman, and LeMieux.

The retailer also offers in-store fitting services for tall boots, helmets, and show coats through equestrian product advisors.

According to The Globe, a separate investor group seeking to keep the business operating submitted a competing bid but lost to Gordon Brothers.

Dover Saddlery has filed a WARN Act notice in Massachusetts, stating that 112 employees at its corporate headquarters and distribution facility could be laid off in July.

“Whether the layoffs or closures occur will depend in part on our success in obtaining funding or selling our business,” the retailer said in the filing.

The company has not filed for Chapter 11 or Chapter 7 bankruptcy protection.

Founded in 1975 by brothers David and Jim Powers in Wellesley, Massachusetts, Dover Saddlery grew into a national chain with 37 stores across the country at its peak.

The retailer has closed several stores over the past year, despite previously announcing plans to open a flagship location at The Shoppes Off 80th this year.

• Further reading: 7-Eleven set to close hundreds of stores in North America.