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A tipster let us know that Nordstrom-owned Treasure & Bond is closing up shop today. We reached out to the retailer, and received an unusually honest answer:
We're really proud of our efforts at treasure&bond, but we have yet to turn a profit. With our two-year lease being up at the end of this month and an increase in rent, we couldn't justify staying in our current location. Moving didn't pencil out either so we felt now was the right time to close.
The e-mail goes on to reiterate that T&B was always meant as an experiment for Nordstrom to "try something new, give back to the local community, and learn more about doing business in Manhattan as we get ready for our full-line store opening on the West Side in 2018." In the two years they've been opened, the store has raised over $200,000 for children's charities in NYC. After today, the store will close for good.
· All Treasure & Bond coverage [Racked NY]
· All Discontinued posts [Racked NY]