Fabric Stores Close As Garment District Landlords In New York City Feeds An Interest In Restaurants
[By: Travon Bracey]
As gentrification hits through major cities, affecting housing, education, and businesses, it seems as if the fabric industry in the garment district is about to experience that same thing. Landlords of the Garment District in New York City have decided to close down their fabric stores to make room for the new tenants in reference to developing restaurants. This change is a bit dramatic, because customers and tenants are angrily raving over the horrifying change that's about to occur in the Garment District.
The fabric stores that are being affected are Paron Fabrics (which is closing this Sunday, September 18), H.M. Fabrics (which will be closing by the end of the year), Better Choices Fabrics Inc. (which closes at the end of the year), Royal Fabrics (which is already closed -- "Store For Lease" sign is already hanging on the store window), Mood Fabrics, Beckstein Men's Fabrics, and other stores within West 39th Street & Between Seventh and Eighth Avenue.
So why are these stores being closed down? Well, lots of owners stated that there's no business going through any of the stores. Resources say sales in these fabric stores had started to decline around the late 1980s.
"No one wants fabric industries, garment industries, anymore ... Everything has to be a restaurant or food," owner of H.M. Fabrics stated.
Because the fabric stores couldn't generate much money in their sales, such as Paron Fabrics that was back up on their $18,000 lease agreement rent per month, the Garment District has gone down the drain financial and landlords are looking to turn the Garment District into a money-making sensation.