For over 100 years, a Calgary business has been one of the places to go to buy all sorts of western wear, but now the company is hanging up its spurs in the midst of the economic downturn.
Riley & McCormick first announced that it would be closing down just over a week ago and has been holding a clearance sale ever since.
Brian Guichon, the owner, said the decision to close down was made due to the current economic situation in the province.
He said that the store has weathered recessions since it opened back in 1901, but wasn’t so sure it would be able to last this time.
“We just have to say, ‘are we going to wait around until the price comes back and keep pouring more money out the door?’ and at some point you make a decision that you’re not going to do it anymore,” he said earlier this month.
He said the year’s sales were down heading into the summer and he was hoping Stampede could have turned things around, but that was not to be.
Sales at the shop are down more than 30 percent this year alone.
Low sales weren’t the only thing that he was worried about either. Guichon said municipal taxes are still at high levels and government-mandated wage increases will hurt a lot of businesses, not just his own.
For the last day, people have been coming into the store at a steady pace, taking a look at the business as it sells everything off.
Many people say they’re sad to see Riley & McCormick close.
Kimberly Lorencz came down to the store to get a photo of Riley, a hand carved wooden horse that has been at the location since the 1920s. She says she is sad to hear about the business closing down.
“It’s too bad to see so many great businesses going down because of this economy. It’s just sad. I hope that they can find a way to put [Riley] somewhere where we can still admire him.”
81-year old Joseph Madero, who has worked at the shop since 1999, says it’s a sad day.
“It’s the end of an era. Partially it’s the economy. We had a very wet July and the sales were down from that. Looking forward, you have the Alberta government proposing an increase in the minimum wage to $15 an hour and I’m sure that’s been a factor in the management’s decision to close this store.”
Madero says the customers he’s spoken to share the same feelings.
“It’s been a part of my life for many years and it’s sad.”
Riley & McCormick still has a store that operates out of the Calgary International Airport. It will stay open until the end of its lease.
