Perhaps a business school case study can be done about the fate that befell Local Collingswood, an ambitious market/cafe that folded after three weeks at 714 Haddon Ave. in the bosky borough.
In a note posted on Facebook, management wrote: "With great sadness we want to announce our closing. We envisioned this very market for several years and built it precisely to that vision. But while we attracted some great followers, our sales were not reflective of even our most conservative projections, and therefore had to make this very tough decision. We want to thank all of our customers (our good friends who came out and the new friends we met) for the goodwill and excitement they shared with us during our brief tenure. And we want to especially thank our staff, who helped us deliver great food to a great community."
Public reaction has ranged from sad to incredulous - as in, why owners gave up so soon on a business that was three YEARS in the planning.
In an article on NJPen.com, co-owner Cathy Smith said the overhead costs of managing "this huge beast" never squared with the sales necessary to sustain its operations. She said that for Local to continue operating for "even another few months at a break-even point would require an infusion north of $100,000," the article said.
(I'm loath to quote too much here, because I'd much rather you that you "click locally" and read Matt Skoufalos' comprehensive article.)
Owners are promising full refunds for gift cards at firstname.lastname@example.org.