Bean Exchange in Bella Vista is closed

Matt Armstrong has shuttered the Bean Exchange, his coffee shop at Seventh and Bainbridge, after almost a decade.

By text, Armstrong said he made the move "with great sadness."

"I am heartbroken for its faithful employees," he wrote. "They are an asset that any business should be proud to holster. Pressures of being a small business owner in the city of Philadelphia, family life changes and situations beyond my control have led to the sale of the property."

He said he wants to allow the new owner to develop the property as he sees fit.

"Small business is the cornerstone of every part of being an American," he wrote. "It is our independence. Support it."