The American Apparel company went bankrupt earlier this month in North America and various companies are bidding on the carcass but no one wants the stores.
The racy and controversial store has had a home in Osborne Village for years but the closing out signs are in the windows now and the store has a short time to liquidate stock and close its doors forever.
This has created some alarm in Osborne as there are a few empty storefronts already and American Apparel occupies a fairly large space. The vacancy rate is a reflection of high rent on the swishy street. Too few owners of the land, too little give on rent and many larger spaces are now uneconomical. The solution could lay in sub-dividing the space and then a new vitality might emerge.
Osborne Village has succeeded because it a dense area with a main street running through it. This contributes to a diversity in retail and restaurants. Today, competition on Corydon and Sherbrook is something landlords will have to be mindful of.
Osborne Village is experiencing growth in a way not seen in decades. The demise of American Apparel should and could open up opportunities for the street in the days ahead.
This has been an editorial by John Dobbin.
To read more from John, visit his blog Observations, Reservations, Conversations
