Ricky’s, iconic NYC beauty shop, faces more closures
The retailer has closed 9 stores this year
Four years ago, exotic party goods and beauty retailer Ricky’s had 29 stores. By the end of the summer, it will have just two.
The retailer’s remaining stores, located at 830 Broadway and 590 Broadway in Soho, each have eight years left on their leases, according to the New York Post. Ricky’s has closed nine stores so far this year.
Founder Ricky Kenig told the outlet that he understood all the retailer’s stores could be closed soon. He sold his stake in the company in 2012.
The store’s decline comes as the retail industry has faced a slew of bankruptcy and store closures, from small retailers to the failure of massive chains like Sears.
As recently as 2013, the retailer was still in expansion mode, when it signed leases on Park Row and opened a new store there. [NYP] — David Jeans