Sounds like it wasn't so much a business as a piece of performance art.
A lot of people were angry and upset that it was closing, but whenever you pressed someone about it they would admit they hadn’t visited in a decade or more. Of those who had, the experience wasn’t very good. The museum had become more interested in poor digital displays and other disappointing museum things that simply weren’t interesting to view.
It didn’t stop people from being mad that it was closed or even getting angry at donors that pulled their funding. Some people like the idea of something existing in their city even though they don’t want to pay for it with their own money.
It didn’t change with the times at all and the subcultures themselves went into decline or just aged-out of being club-goers. On closing night it was rammed with people who were sad to see it go, who wished it could stay there. The owner asked “where have you all been?”
Well, we’ve been ageing, hanging out in craft ale bars and doing that a lot less often. Our appetites for hanging out in a loud, semi-subterranean dive are satisfied by an annual or biannual visit to a place we thought fondly of and thought would always be there, but didn’t really want to be in when it came to it.
I'm very much on the left, from an economic perspective at least, and a bibliophile, but I found the selection underwhelming. There weren't that many shelves and I just don't read much gender stuff, which was very much the focus.
I did buy a few books, none of them particularly good. The vibe there was also a bit odd, now I reflect on it.
I can definitely recommend Bookmarks off Tottenham Court Road for this sort of stuff. Great range, friendly staff, some nice merch. Got my prized Jeremy Corbyn tea towel there.
I've been running a retail business with similar inventory costs for a couple years. I have one employee and I pay them generously. I personally chip in about 20-30k annually to keep the whole thing afloat. It's definitely possible if you keep things small.
Edit to add: 10k in inventory just doesn't add up. In retail you need to turn over inventory multiple times annually to cover your fixed expenses like staff, rent, etc. if you only have 10k worth of inventory and you're burning >10k a month that means you're selling everything in the store every couple weeks. I don't think books move that quickly, although I could be corrected. Usually the retail standard is turning over inventory 4-5 times annually.
It is rather objectionable to label people with your assumptions. Unless you have some inside information you are just making shit up based on your own judgemental bigotry.
People start "hobby" businesses for many reasons, and those reasons are not always status oriented. All too often I've seen idealistic people with the best intentions crash into reality (often financial reality, but often other causes as in the article).
kinda a weird headline for a store open less than a year in the end? Or am I misunderstanding something
At least the ones I know of that have remained open are in a building owned by the owner (so they don't have to pay rent).
will be interesting to see what happens with this trend in the current economy