High commercial rents and increased competition have claimed another casualty.
Scoop NYC, which first opened its doors in 1996, unexpectedly shut its 10,000-square-foot flagship store in Manhattan’s SoHo last Monday and liquidation sales have started at its 15 remaining locations. The retailer’s e-commerce site is also offering 10 percent off site-wide, noting that all sales are final.
Aside from the flagship, Scoop operates one store in New York’s Financial District, two in the Meatpacking District and another on the Upper East Side. It also has stores in Beverly Hills and Brentwood, California; Bal Harbour, Florida; Atlanta; Chicago; Boston; Las Vegas; Dallas; and East Hampton and Greenvale, New York. Many of the units are tied to expensive leases.
Founded nearly 20 years ago by Stefani Greenfield and Uzi Ben-Abraham, Scoop was acquired by investment firm Yucaipa Cos. in 2007. Some of the brands most recently carried by the retailer include Missoni, Yigal Azrouel, Thakoon, Zac Posen and Burberry.
Closing dates have not been set but according to Women’s Wear Daily, which first reported the closures, all merchandise should be sold out in eight to 12 weeks. A source told the outlet that while Scoop had achieved margins of more than 46 percent and sales in the range of $1,000 per square foot, it was not enough to keep the retailer out of the red.
Representatives for Scoop did not immediately respond to a request for comment on the upcoming closures.