The economy killed us, basically, said Sheryl Clear, who owns the business with her husband, Loren Clear. It started a couple years ago, but this last year was pretty tough. We just decided it was time.
It’s been a gradual process of watching the sales decline and watching the forecasts for the economy, which are not good, she said. There have been a lot of factors that have impacted this kind of business. First of all, we sell big ticket items.
Many of the Depot’s customers are retired and living on fixed incomes, so they aren’t as willing to spend money in the recession, she said.
People lost a lot of money in the stock market, she said. Even if they’re doing OK on a day to day basis, they don’t have the net worth that they’re used to, so they’re not spending as much money.
Clears bought the business 15 years ago and moved it from its location on Fourth and A streets to its present building at 498 Oak Street, which they constructed. According to Sheryl Clear, it has been the only full service furniture shop in Ashland.
