RICHMOND HEIGHTS, MO (KTVI) - Kyra Nichols admires the Gucci handbag she just snagged for under $100!
She’s been shopping at ScholarShop since she was a young girl and now she takes her two daughters, ages 16 and 19 along.
Wednesday evening she found out her beloved second hand store is closing down.
Scholar-shop is closing down.
“Really a loss for words,” she said.
ScholarShop is the resale money maker for The Scholarship Foundation which provides scholarships to students pursuing college who don’t have the financial resources.
The shop has operated for almost 60 years, taking high style, big brand name and designer donations and selling them on a dime for the charity.
There are now two locations, the one in Clayton across from the Galleria and the second, in Webster Groves on Big Bend.
Faith Sandler, the Executive Director for The Scholarship Foundation said it wasn’t an easy decision. The board of directors spent 10 months studying retail trends.
“We're beloved by our shoppers, we have donors that have sustained the shop from the beginning unfortunately the retail industry around us has really changed,” Sandler said.
“We are not losing money, we were not losing money. Revenue was trending downward and the last thing that we want to do is lose money in a climate where our students count on us,” she added.
The shops are closing in 6-10 months time. Twenty-eight positions will be eliminated.
But The Scholarship Foundation will still accept money donations and will focus it's attention on fundraising.