LOUISVILLE, KY (WAVE) - You have seen the signs. Everything must go. Out of business. Sometimes it is an owner competing with big box corporations. Or as WAVE 3 discovered, an entrepreneur still struggling to recover from what has been dubbed, the great recession.
As the rest of us tighten our belt on spending, another mom and pop formal wear store is closing shop.
"We were here for so many years. We made a lot of people look good and feel good," Margaret Ann Gnadinger said. For more than 28 years, Gnadinger suited just fine by renting tuxedos and gowns out of her Bardstown Road store.
However, as the bright lights at parties dimmed and potential customers trimmed their budget for weddings, proms and balls, she realized her black tie business was in the red.
"It is not as it used to be. People are watching their money. We're in an industry where there's extra funds in our customer's pocket. The funds aren't there right now, so they're going to wear what they have in their closet," Gnadinger said.
Gnadinger's store, Colonel Quick, has been a staple for more than 50 years. She is selling all of her inventory - some as low as 80% off retail price.
"The customer base is not there. It is simply not there," Gnadinger said.
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