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Retail rents might be more negotiable with the current economy, but that doesn't mean that companies can afford to keep a shop in Soho like they used to do. One definite example is the small stationery store at 91 Crosby Street, Industries Stationery. They have abruptly closed "for now," and plan on re-opening in November "in time for the holidays."
Actually, they might be having the opposite luck of negotiable rent, what with the opening of the swank Crosby Street Hotel right next door. If they aren't careful, they could easily become a coffee shop or small, overpriced brunch place to cater to the hotel.
But for now, Industries Stationery will try to get back on its legs and resume business as usual in Soho. Here's the full explanation from their teary signage:
We regret the inconvenience of not being open for the next several weeks. It's been years and many challenges which have brought us to this point. We hope that you understand that for small businesses, this is a particularly difficult time. We urge you to visit our online store, place orders and send us your comments and suggestions as we strive to regroup and find new avenues to remain viable and dynamic in a new economic and cultural era.
· Industries Stationery [Official Site]