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April 24, 2017

As stores close, owners ask: Now what?

  • One retail consultant says even successful storeowners should think about ‘what's next' as people switch to shopping online.
    • By JOYCE M. ROSENBERG
    AP Business Writer

    NEW YORK — When small or independent retailers post “Going Out of Business” signs, many ask themselves, now what? That may mean trying again — or forging ahead on a completely different career path.

    Reilly Starr and her business partner had opened Naked Sports Gear, a Manhattan store that sold athletic wear for women, in 2011. They were successful, but faced increasing competition and high rent and other overhead. Three years ago, an underwear company sued over the word “naked.” Starr and her partner fought it until late last year. Then, believing the workout wear fad was fading, they accepted a cash settlement and wound down the business.


     
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