An antique store that has called Steveston home for 11 years is closing its doors permanently.
The Fab Pad on Moncton Street, which sells vintage and antique furniture as well as home décor, announced recently the store will be closed at the end of the month.
The store owner said the slower economy and lack of supply were the main reasons for her decision to close.
“It's really the economy more than anything. Ever since the past year and a half, the economy has really tanked considerably,” said Laura Stapleton, owner of The Fab Pad.
She said people tend to spend less money on things outside of basic needs such as food and shelter, as they have been hit hard by inflation.
“I completely understand that for sure. But it's unfortunately that you just can't maintain a brick and mortar with all the overhead that comes with it when the economy is down like that.”
Stapleton said a lack of supply of vintage and antique items on the market has added to the business challenge.
“With vintage and antique pieces, there's a finite supply. There's only so many of these things in the world,” she said.
“Either we're exhausting the supply of them, or people are hanging on to them for much longer, it's hard to say. At least for me anyway, having been doing this for 11 years, I've found that there's much less abundance of it than there used to be.”
All items in the store are on sale at 40 per cent off. Stapleton said she plans to start another business selling small vintage and antique items online. More information will be released on The Fab Pad's website and social media accounts.
“I appreciate all the support from the community and everything over the years," she said.
"I'll be at the Steveston Vintage Fair in the summer selling there, so you can always come and see me there as well.”
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