Sports Retailer Now Announces A Painful Closure And Bankruptcy

A sports retailer now announces a painful closure and bankruptcy after facing linger post-pandemic economic difficulties.

The owners of the sports retail store 4Run3 based in Boston, Massachusetts posted a heartbreaking farewell on Facebook.

“‘We’re sorry…’ Such a truly genuine, yet totally useless phrase. It doesn’t even begin to make up for all of our shortcomings, yet it is all we can say,” the post began.

The runners outlet, 4Run3, was first meant to open in 2020 but had to delay opening for months due to COVID-19 lockdown restrictions.

Tim and Jill Murphy, the owners of the store, said that although delaying opening hit them financially, they still managed to overcome those struggles.

“We took out loans, built an online store, and opened up as soon as we could, even without most of the major shoe brand’s support,” they shared.

“For a little while there, we thought we would make it.”

Despite early optimism on the owners’ part, the past year proved to be extremely challenging on the entrepreneurs.

“Rising interest rates have resulted in monthly payments that exceed what we bring in.

High operating expenses, a large retail space, and piling up bills have finally caught up with us and have brought us to where we are today,” they wrote.

“We have financially lost everything.”

“Our home, our business, our everything. We are truly devastated.”

The devastated couple went onto thank the community for embracing their business and supporting them throughout the years.

“Your belief in us, your loyalty, and your commitment to shopping local mean more to us than we could ever possibly express.

We are so unbelievably grateful for you and so terribly sorry for this disappointment.”

After thanking various community members, staff and other supporters, the heartfelt message shines light on the shame and embarrassment financial difficulties can bring.

“Being financially bankrupt is a terrible thing – the shame it brings with it is unimaginable.”

“But the loss of our relationships with this community is the biggest blow.”

The post ends with a final thank you to the running community and hope for the future to come.

“Our heads will hang low and it will take us years and years to recover and to start our lives over, but we will survive.”

Attached to the goodbye message is a picture of Tim and Jill Murphy embracing in front of a 4Run3 sign.

Over 100 commenters expressed their sadness for the couple and all of the joy the shop and running community has brought them.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

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Market News Today - Sports Retailer Now Announces A Painful Closure And Bankruptcy.
Market News Today – Sports Retailer Now Announces A Painful Closure And Bankruptcy.

Another massive retailer is now closing due to crime despite its location being a community staple for several years.

Rampant theft has led Walgreens to permanently close one of its major locations at the White Oak Shopping Center in Maryland, reports The-Sun.

Staff and shoppers told ABC affiliate WJLA-TV that the store was closed due to high rates of theft and crime.

Mobile security cameras were recently added by police in the parking lot around stores in the shopping center.

A source also told WJLA-TV that the shopping center’s management company had to fire their security company and hire a new one.

Just last year, there was an armed robbery inside Walgreens, resulting in a man and a woman taking an unknown amount of money and products.

Robberies have become a major problem in the area as stores get ransacked by violent thieves.

A resident told the outlet she was too scared to leave her car in the shopping center’s parking lot.

She says she saw another woman get assaulted and robbed.

“You can simply be walking and they take your purse and start running and they leave you with nothing,” said Sarah Rodriguez.

“That’s why when I’m here before I get out of my car I always look around first.”

Walgreens corporate execs announced earlier this year that about 150 stores will be closed throughout the US.

This would reduce the company’s corporate staff by about 10%, resulting in over 500 positions being eliminated.

News of a replacement for the store in the White Oak Shopping Center hasn’t been announced.

However, the center has been struggling to replace the Sears location that has sat vacant for over three years.

“Yeah, it’s not good, because everyone is complaining,” said resident Kokou Eafbo.

“This is the only pharmacy we have in this area and suddenly they close, we don’t understand.”

The shopping center had once been a thriving area full of shops in Montgomery County, reports The US Sun.

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Market News Today - Sports Retailer Now Announces A Painful Closure And Bankruptcy.
Market News Today – Sports Retailer Now Announces A Painful Closure And Bankruptcy.

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