A year-round Island clothing store in Oak Bluffs is set to close its doors for good this winter.
Basics Clothing Company, the family outfitter at 24 Circuit avenue, is preparing to shut down in December, co-owner Erin Tiernan told the Gazette last week.
According to Ms. Tiernan, she and business partners Thomas and Laurel Welch came to the decision after the owner of the building, the Barmakian Realty Trust, expressed interest in selling the property. Attempts to reach the trust and trustee Luke Barmakian were unsuccessful.
Ms. Tiernan, who also runs Oso and is a part owner of Eastaway with the Welches, lives in a condo above Basics, and said an ownership change would create too much uncertainty for both her business and her personal life.
“There’s a big disconnect on the Island between what businesses can produce and what real estate is worth…” she said. “If the whole [building] goes and somebody else buys it, and then we have a new person renting to us, obviously with that change in mortgage payment, our rent would become too high for the business to sustain.”
A real estate listing for the building, which is also home to The Corner Store, has not been posted publicly. The property is assessed at over $3 million.
Ms. Tiernan said she and her business partners are still deciding what to do with Eastaway, Basics’ seasonal sister store at 20 Circuit avenue.
“Without Basics, the corporation really doesn’t support all three of us,” she said. “One of us will be going forward with it, but we’re still trying to sort out that part.”
Ms. Tiernan has been involved with Basics for more than half her life. She has been part-owner of the store for 17 years and has worked there for 23 years in total.
“It’s the most time I’ve spent on anything in my life, and it definitely feels like an entire chapter is closing,” Ms. Tiernan said. “New doors open, and we’re all going to be fine … but it’s still a loss to the community.”
Running a year-round Island clothing business has meant a great deal to Ms. Tiernan.
“We see people at their best when they come in because they need something for … a wedding, and we see them at their worst when they need black pants for a funeral,” she said.
As Basics prepares to offload its inventory, all items are currently at least 25 per cent off, with certain items as much as 50 per cent off. To Ms. Tiernan, the empty store will leave a hole in Island retail.
“I think everybody will really feel it the first time it snows, and it’ll be hard to find snow boots for kids,” she said.
Kudos to Tom and Laurie for not only giving the island a great “basic” store but for also mentoring a young community person, Erin, for many years.
We will most definitely miss this friendly store.. it has been so nice to pop inn and get family gifts.
It’s heartbreaking for the owners and the community. I will miss this store that has truly provided the things that my kiddos needed and a lot of gifts and fun things for myself. Thank you Basics! So sad to see you go, another loss we will all feel.