Submitted by Centro
A second incredibly mild winter in a row, with no ski season to speak of, continues to takes its toll on the regional economy, and Centro can’t help but be affected. With a major investment made in ski and snowboard repair equipment- well, the return has been minimal at best. Coupled with the lack of associated retail for winter in The Olympia Gear Exchange and diminished retail sales in the Bazaar, much of the fuel (working capital) to drive the Spring and Summer season’s has been lost.
In order to sustain and then grow the business and its components, we first have to scale back and focus, living within our means. To that end, we are making some changes, effective Friday, February 13, 2015:
- The Olympia Gear Exchange and our Retail Bazaar are moving to smaller digs more in the heart of downtown Olympia. Announcement of the new location is imminent. “It’s gonna be a great little retail space on an amazing block- and we’re excited to get back to our roots, start small, and grow organically,” says Board of Directors spokesperson, Jim Cooper.
- The Olympia Footwear Company, located within Centro at 408 Olympia Ave NE, is liquidating its entire inventory of footwear and socks, effective immediately. The brand name is being shelved for the moment – we hope to bring it back in the future, when financing for inventory is secured, but for the moment, The Olympia Footwear Company at Centro is closing, and all inventory being liquidated.
- The Bike Stand, including all inventory, retail and rental, as well as all its shop tools and supplies, is being liquidating for the time being, and the brand is shelved by Centro. “Until we have sufficient working capital to do it right, and have the best bike shop in the region – anything less is a disservice to customers and our valued staff,” says Cooper.
Garage sale – In addition to all the cycling, winter, and footwear inventory, we will be hosting a building wide Garage Sale of everything from hangers to display slat-wall and grid-work to mannequins and a large amount of store fixtures. There’s lumber, excess computers, brand posters and signage- and an amazing array of ‘odds and ends’ we’ve found in various corners of the building.
Centro’s re-structuring and ‘right-sizing’ will allow the Olympia Gear Exchange to flourish and serve customers for many years to come. We intend to roll out additional brands when enough fuel for those ventures is in place. To help and support Centro, come shop the moving, liquidation and garage sale – it’s the fuel that launches us into Spring.
Says Cooper, newest member of the Board of Directors, “Centro is committed to downtown Olympia and a thriving retail environment. While we are closing some operations – we are not closing the operation, or our commitment to downtown.” The corporation’s Board will be using this time to focus all resources and attention on growing the Olympia Gear Exchange, and planning for growth.
