Retail Industry
Industry: Email Alert RSS FeedCUSTOM SHOP CLOSES UP OPERATIONS; CLOSURE OF 52-UNIT CHAIN FOLLOWS AN ABORTED DEAL WITH SPENCER HAYS.
Daily News Record, March, 2001 by GELLERS, STAN; PALMIERI, JEAN E.; YOUNG, VICKI
NEW YORK -- The Custom Shop has manufactured its last shirt.
Faced with a cash crunch and the unraveling of an impending sale at the eleventh hour, the venerable 52-unit specialty store chain has closed its doors.
"We've discontinued operations," Tim Belton, president and CEO, confirmed to DNR in a telephone interview. "We had a deal that was supposed to be effective Friday, but [Spencer Hays, chairman of Individualized Apparel Group,] backed out right before the signing of the final contract so we had no other choice."
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Belton said Custom Shop was ...
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