Wilkes Bashford closed its 10,000 square foot Carmel store earlier this week. It was the second store closing for the luxury retailer this year. Store founder Wilkes Bashford told WWD the store closing is the result of the recession and reduced tourism.
"Regrettably, our Carmel store is a victim of the downturn in the economy," said Wilkes Bashford, founder and chairman of his namesake company. "While we are saddened by the closure of the Carmel store, it provides the opportunity to redirect our energies and resources to our downtown San Francisco flagship and Palo Alto stores."
The Monterey Peninsula depends heavily on tourism to support many of its businesses, which have suffered in the recession.
The San Francisco Business Timesnotes that Wilkes Bashford still has its 27,000 square foot flagship store in San Francisco and another store at the Stanford Shopping Center.
