DEL.ICIO.USTwo stores in Buckhead’s Miami Circle closing
Canterbury Antiques lost business, owner died; Davar Carpets/Cyrus Fine Rugs paying off debt
The Atlanta Journal-Constitution
Wednesday, October 29, 2008
The economy isn’t all to blame, this time.
Two neighboring stores in the Shops of Miami Circle Market Center in Buckhead are going out of business. One closing is directly related to the economic downturn; the other is due to a different type of loss.
Hyosub Shin/hshin@ajc.com
Manuel Nava, an employee of Cyrus Fine Rugs, packs a rug at the Miami Circle business.
Hyosub Shin/hshin@ajc.com
Canterbury Antiques is closing its doors after the death of one of its owners.
Canterbury Antiques’ primary reason for closing its doors is the death of one of its owners.
“There were things my husband John did in the business that I just cannot do,” said Sheila Adamson. “So I thought it best that we close.”
Adamson said business slowed down after Sept. 11, 2001, and never quite recovered, yet they stayed open. Had her husband not become ill and died, the store might have continued to soldier on.
“Now if we’d been making money hand over fist, I’m sure I’d have found a way to keep things going,” she said.
Davar Carpets/Cyrus Fine Rugs, just down Miami Circle, is liquidating its multi-million dollar inventory so debts can be paid, said business owner Shahdad Davar.
“We are behind on our bills, so this is what we have to do,” he said.
While downsizing, closing or liquidating may be the reality of many retailers in Atlanta, and across the country, it’s not part of the trend on Miami Circle, said the shopping district’s merchants association president, Sheila Benson.
Benson, who owns Foxglove Antiques & Galleries, said there are approximately 60 home-related businesses on Miami Circle — and it should speak volumes that only two are going out of business. In fact, she said, her store recently added 2,800 square feet to its footprint.
“Our clients may be a little more concerned about the price tags, but most have not cancelled their projects,” Benson said. “It is true that some designers have had clients re-evaluate and develop a different schedule and budget for their projects, but many designers have more renovation business than ever.”
Davar, who is a carpet designer, said his showroom has been on Miami Circle nearly 15 years. He said his clients are traditionally designers and architects, and their loss of business has trickled down to him.
“They don’t have as much business as they used to, so I don’t have as much business as I used to,” Davar said.
He wouldn’t say how much he owed, but did acknowledge “it’s enough that I have to sell off as much as I can from my inventory.”
Davar’s story isn’t an unfamiliar one, said Randy S. Stuart, assistant professor of marketing in the Michael J. Coles College of Business at Kennesaw State University.
With consumers spending less, the demand for many services is dwindling and some retailers will be forced out of business, she said.
“There will be some demand, but not enough to sustain all of the retailers,” Stuart said. “Not everybody is going to go away, however. Or if everybody does go away for awhile, some will come back. Because at some point the economy will get better.”
Davar said he hopes to be among those who return. He said he will continue to design rugs and carpets for customers, but he’s not sure where or how.
“There is still a lot of uncertainty about the future of my business, but this is not the end,” he said. “Maybe one day I can merge with a design firm or something and share space. That might work better than having this large showroom.”
— News researcher Richard Hallman contributed to this report.
