After 12-year run, Shoelace Inc. closing Algonquin Commons store
The owners of Shoelace Inc. in Algonquin said they've been hit with a variety of challenges.
But ultimately, the health of co-owner Bob Guss will lead to the store's closure this week, timed with the end of its lease at the Algonquin Commons shopping center.
Guss said in a news release he is feeling fine but had to recover from double bypass surgery in June.
Guss, who owns Shoelace Inc. and Ms. Bossy Boots in Crystal Lake along with Amber Mullins, will consolidate inventories at the latter location.
"You have to move forward when you can," Guss said. "It's hard. We've been here for 12 years. It's always tough to have to end something, but it's for the best. At 8 p.m. on Friday (Jan. 6) we'll lock the door and that will be the end of it."
The store has not bounced back to pre-COVID sales numbers, Guss said, while inflation and late deliveries on inventory have also presented challenges.
"You have to have stuff when you need to sell it," he said. "Getting sandals in November doesn't help us."
Another factor is the potential remaking of Algonquin Commons. The Pottery Barn announced last week it is closing its store there, while village officials said a new entertainment center and Ashley Furniture would open by summer.
Guss said that shopping center owners Red Mountain Group, which acquired Algonquin Commons in 2021, were very good to them and indicated they preferred Shoelace Inc. stay. But Guss said he was concerned the possible switch to larger tenants and the interactive venue made Shoelace Inc. an uncertain fit at the mall.
The Algonquin Commons was originally envisioned as a hub for small independent stores, Guss said. But the mall wasn't able to fill spaces fast enough and was in receivership for seven years until Red Mountain Group acquired the site.
Guss characterized the decision as a consolidation move rather than a full closure, and confirmed that a lot of inventory at Shoelace Inc. will move to Ms. Bossy Boots, including its Birkenstock collection.
Markdowns and discounts up to 20% will take place in the store's final week.