A high-end luxury goods store on a prominent corner in downtown Aspen has closed.
The windows of the former Bulgari store at 200 S. Mill St., which sold watches, jewelry and other luxury goods, are covered in white paper. No sign explains the store’s sudden disappearance and the recorded message on the store’s answering machine doesn’t offer further explanation.Bulgari, a 125-year-old brand that is headquartered in Rome, posted a second quarter net loss of euro11.2 million on top of first quarter losses totaling euro29.3 million, according to financial reports. The company is planning to close 10 to 12 of its stores in the next year, according to a Bloomberg news report. Stores in Palm Beach, Fla., and New York’s Madison Avenue are closing this month. In Aspen, commercial vacancy rates have risen from about 1.4 percent at the beginning of the year to 5 percent as businesses closed or moved during the spring off-season. The amount of available space jumps to 6.4 percent if counting space that is actively being offered for sublease.
By Curtis Wackerle, August 27, 2009 Aspen Daily News
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