Liberty Street Video to Close
When the economy soured last year, Dave Kozlowski still felt optimistic about the prospects for his business, Liberty Street Video. After buying the store in 2007 and investing in new inventory, sales were growing 10-15% each month, and he had finally stopped losing money.
But in January, he says business took a turn for the worse. Since then, sales at the East Liberty store have dropped around 5-8% each month, with no sign of improving. So with his lease up for renewal at the end of the year, Kozlowski has decided to close the last independent video store in Ann Arbor.
Sunday will be the last day of the store’s regular hours. It will be closed on Monday and Tuesday, then reopen on Wednesday with truncated hours: from 2-8 p.m. weekdays, and noon-8 p.m. on weekends. The goal is to sell off all inventory, including DVDs for $5 and $2 for VHS tapes. Kozlowski says he’s hoping to recoup some of his roughly $200,000 investment and pay down $40,000 in debt, including the $10,000 in back rent he owes the landlord, Ali Amiri.
“It’s been fun,” Kozlowski told The Chronicle. “I love it. I love the town.” [Full Story]