November 18, 2016
Coastal general stores face additional challenges
General stores are disappearing throughout Maine, but those on the coast have a particularly high cost of doing business, the Working Waterfront reported.
The rising cost of coastal property, combined with correspondingly higher taxes, is putting the squeeze on general stores, which typically operate on margins of 1% to 2%, Tom Groening reported in the story.
A report commissioned by the Island Institute in Rockland looked at three stores, including two in St. George owned by Linda Bean, granddaughter of L.L.Bean founder Leon Leonwood Bean, and another in St. George that closed in September.
Most Recent
Most Recent
Comments