It's the End of an Era for Gump's and San Francisco
For almost 160 years, Gump's was the quintessential luxury shopping experience in San Francisco. Now, it's preparing to shut its doors. The San Francisco Chronicle reports that the store is seeking bankruptcy court approval for a “store closing sale” ending December 31. But the end isn't certain yet for the 157-year-old business.
While the luxury market is strong, Gump's assortment of jewelry, art, home décor and tabletop items largely appeal to an older demographic. Sales are down and the customer based is dwindling. Technically, Gump's is still looking for a buyer to continue operations, but bankruptcy experts are skeptical that the store will be able to find a financial lifeline. A Gump's spokesperson confirmed to the Chronicle that the store at 135 Post Street will close by the end of this year if a buyer isn’t found.
In a post on Facebook, the management wrote, "You may have heard the recent news that Gump’s is Going Out of Business...Though this decision has been difficult, we are pleased to offer our entire selection one last time, at unprecedented discounts of 20 to 40 percent off. We would like to thank our loyal customers and employees for so many years of dedication and support, and hope you will all visit the store, website or catalog early, to take advantage of these fantastic discounts and the best selection. While we are saddened to be closing our doors, we look forward to providing our customers the opportunity to purchase the high-quality items they have come to expect from Gump’s at the lowest prices ever offered."
Customers with gift cards or credits at Gump's will have until August 31 to use them. If you've been holding onto that giftcard your parents sent you last year, now's the time to use it.