West Side Bargain Mart will be closing on Sept. 4, after six years at its 3135 W. Colorado Ave. location.
According to co-owner Diane Krug, they just can't afford the rent any longer.
"The owners of this building, they want just astronomical prices for leases. You are talking about $14,000 a month," she says for their location. That's what they have been paying, and they just don't see the sense in absorbing that overhead any longer. "We're closing because the lease is just too high. We want to consolidate to one store for economic reasons, so we aren't stretching ourselves so thin."
She says that the building's owners, who are based in California, aren't willing to negotiate. The lease is up at the end of September, but Krug is closing down on the 4th to move the inventory over to their south side location at 3075 S. Academy Blvd.
Krug says the lease there is $4,000 a month.
After investing in an expansion, the store won the Indy's 2009 Writer's Pick: Best Bargain Boon.
As the Indy's Kirk Woundy wrote back then:
"Almost every week," says Jim Krug, "I get a customer asking, 'How do I open up a store like this?' And I say, 'You can't — there's just not enough inventory out there.'" Luckily for local bargain-hunters, Krug got in while the getting was good. And using the connections he's made in his four years running West Side Bargain Mart, he expanded not once, but twice, in the past year. Krug now fills 12,000 square feet with not only dry goods and groceries — many of which are natural and/or organic — but also electronics, cosmetics, car-care products and much more.
A note for their shoppers, sitting by the registers, reads: "We thank each and everyone of you for your patronage and friendship. We had hoped to continue with a location somewhere on the westside but have decided that in todays [sic] challenging economy it is better for us to focus our energies on just one store."