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Erica Techo
Signs on the windows at Wolf Camera in Homewood thanked customers for friendship and loyalty.
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Erica Techo
Signs on the windows at Wolf Camera in Homewood thanked customers for friendship and loyalty.
Wolf Camera has shut its doors in Homewood for good today.
Ritz Camera Managing Director Michael Roth said that while the store at 2711 18th St. S. has performed above average for its industry, the overall outlook for brick-and-mortar camera stores is not optimistic.
"The business model for stores like Wolf has become too risky. Industry sales have been weak now for at least 5-6 years," Roth said. "While our local Wolf store has done better than the industry vis-à-vis performance, it did not do well enough to overcome the huge headwinds it was facing."
Wolf Camera was among the buildings recently acquired by Michael Mouron of Capstone Properties, and its neighboring businesses are planned to be replaced with new retail and restaurants. Mouron said Wolf Camera chose to buy out of its lease early. Though the store is already closed, Mouron said their lease officially ends Jan. 31 and a decision has not been made about the property's future.
"I am not going to rush to re-lease the Wolf Camera building pending further decisions to be made," Mouron said.
Roth said all employees of the Homewood store received a severance package.
"They are all top-notch individuals and we trust that they will each land a new position soon," Roth said.
