We are literally watching, on a daily basis, the total economic and governmental collapse of a once world class city.
“Another major retailer is leaving downtown San Francisco — this time Coco Republic, an Australian furniture store that is leaving the iconic Union Square less than a year after opening a flagship location there.
The ongoing retail exodus from San Francisco follows years of worsening crime, drugs, and homelessness, plus a wave of “mass looting” events that have caused many other retail stores and chains to leave the city.”
Office vacancies run about 10-11% nationally—in San Fran it is 31% and growing. No need for an autopsy—cause of death was suicide.
Major Retailer to Close Flagship San Francisco Store After Less than a Year
JOEL B. POLLAK, Breitbart, 5/11/23 https://www.breitbart.com/politics/2023/05/11/major-retailer-to-close-flagship-san-francisco-store-after-less-than-a-year/
Another major retailer is leaving downtown San Francisco — this time Coco Republic, an Australian furniture store that is leaving the iconic Union Square less than a year after opening a flagship location there.
The ongoing retail exodus from San Francisco follows years of worsening crime, drugs, and homelessness, plus a wave of “mass looting” events that have caused many other retail stores and chains to leave the city.
Other reasons include a decline in foot traffic in downtown San Francisco as a result of pandemic restrictions that caused many workers to shift to work-from-home, and many residents to relocate outside of the city.
The San Francisco Chronicle reported Wednesday:
Coco Republic, an Australian furniture retailer that invested heavily in a San Francisco showroom off Union Square, abruptly announced Wednesday that it would be closing the store, less than a year after it opened on Stockton Street, across the street from Macy’s.
The reason given was safety of its shoppers, along with a significant drop in foot traffic that has not returned since the COVID-19 lockdowns of 2020 and 2021, according to a statement released to The Chronicle.
“We invested extraordinary time and capital in our initial U.S. flagship store in Union Square,” said Anthony Spon-Smith, Coco Republic’s creative director and founder, who is based in Sydney. “Less than six months from opening, we could not be more disappointed to be shuttering this flagship location in our sister city, but ultimately, the safety and well-being of our customers and employees is our highest priority.”
Last week, Nordstrom closed two of its stores in downtown San Francisco, amid denials from liberal pundits like Franklin Leonard who doubted that rising crime could possibly be the reason for retailers to leave the area.
