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Dec 7, 2010 4:16 PMPublication: The East Hampton Press

East Hampton Pharmacy To Close Wednesday, December 8

Dec 7, 2010 4:16 PM

After a month of negotiations with several perspective investors, Frank Calvo, the owner of the East Hampton Pharmacy, said on Thursday that he has not been able to find someone to provide him with a financial lifeline and is making plans to close his North Main Street store permanently on Wednesday.

On Thursday, the apothecary’s shelves remained stocked with inventory, which is now marked 40 percent off. Mr. Calvo said he brought much of the stock over from his Bridgehampton store, which closed several weeks ago.

“The end is imminent unless someone steps in,” said Mr. Calvo on Thursday afternoon. “I have until 7 a.m. on Wednesday and I am doing everything to save my business, but it’s almost a done deal. I don’t want to lose my store.”

Without a benefactor to inject some cash, Mr. Calvo said another village pharmacy is waiting in the wings to step in and take over his client list. He refused to comment on the particulars.

“Right now everything is on sale. Christmas stuff, skin care, perfumes to band-aids; it’s all discounted,” he said. “And it’s not only due to the store’s tentative closing, but because of the inventory surplus I had to carry over from the other store.”

A large part of Mr. Calvo’s business relies on his delivery service, a personalized service offered to help the homebound elderly, local treatment centers and immobilized clients. On Thursday, Mr. Calvo began reaching out to his regular delivery clients, such as the Retreat, a shelter for victims of domestic violence, to explain the pharmacy would most likely be ending deliveries on Wednesday.

“When I called the Retreat and explained the situation they were really concerned,” explained Mr. Calvo. “Many of my clients are dependent on their medication to be delivered.”

In early November, Mr. Calvo announced that he would be forced to close his store after eight years in business in East Hampton Village, citing the poor economy and the loss of his bank line of credit.

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its a sad day really bad news poor marie
By asurest (117), easthampton on Dec 2, 10 6:25 PM
Yet another victim of the CVS-ization of our land. I am so sorry.
By Cairnterriot (7), southampton on Dec 3, 10 9:05 PM
3 members liked this comment
So sorry to hear this news. What a shame.
By Chubtone (7), Boston, MA on Dec 4, 10 8:24 AM
Yes , Sorry to see you go . Good luck in the future.
By joe hampton (3168), south hampton on Dec 4, 10 6:08 PM

This classical pharmacy has been the most positive addition our town has seen in years- - It certainly has contributed to the town's charm - - And it will be a thing of the past unless we get a Christmas Miracle.
---------------------Come on benefactors-------------------------------------------- HELP! Share some of that bailout money on a good cause.
By pride of bonac (42), easthampton on Dec 4, 10 9:52 PM
1 member liked this comment
So, people should pour money into a business that loses money? This country was built on capitalism, not charity... perhaps Mr. Calvo would have been better off if he did not open another branch in Bridgehampton.

It's a terrible thing for people to lose their jobs, especially around Christmas but the economy has been in the tank for years and Mr. Calvo's business is no longer profitable
By Nature (2966), Hampton Bays on Dec 6, 10 2:15 PM
"The country was built on capitalism not charity" is the very attitude that will destroy this country.
By razza5351 (551), East Hampton on Dec 6, 10 3:43 PM
So you would invest your hard earned dollars into a business that has been proven to fail and is not economically viable?
Dec 6, 10 3:54 PM appended by Nature
Maybe while we're at it we should give communism a try - that way everyone would have enough money and we wouldn't have to worry about losing our jobs.
By Nature (2966), Hampton Bays on Dec 6, 10 3:54 PM
A wise man once stated, "only a Sith deals in absolutes.".

When you invest in PEOPLE, not ROI, the success level is usually pretty high. Just like there is no one version of Socialsm, there is no one single version of Capitalism.

However, the version of Capitalism we live under has not only proved to be a disaster, it is the WORST sort of it's extreme. There are far too many decent, good, hard working people who put in at least 60 hours a week, or MORE who just simply aren't ...more
By Mr. Z (10417), North Sea on Dec 15, 10 11:53 AM
Hey Nature, Want some razors & salt to go along with your apathetic acidic tongue lashing of the obvious?
By lursagirl (187), southampton on Dec 15, 10 9:08 PM
If people supported the pharmacy it would not be closing.
By EastEnd68 (888), Westhampton on Dec 6, 10 5:55 PM
-- It's A Wonderful Life", the classic movie had a wonderful ending
---But in this case, it's real life, and the curtain is closing while the
----people who are able to help turned into Mr Scrooge. Bah!Humbug! - -
Wouldn't it be nice -if they have a change of heart-and this turns into a Merry Christmas?- - Its not too late - - Come on guys
By pride of bonac (42), easthampton on Dec 6, 10 9:09 PM
Put your $$$$ where your mouth is
By Nature (2966), Hampton Bays on Dec 7, 10 11:59 PM
Frank did exactly what capitalism is supposed to do. Find a neich, provide a service,employ people, pay taxes, and expand. Its classic. And to make it better he was a nice guy and was important to those who used his pharmacy and he could make a go if given another chance as would happen in the "old" capitalist system. But now the fatcats got theirs and no second chances unless other fatcats pay them with free tax dollars. The rich get richer in spades is the "new" capitalism. So now go to the corporate ...more
By facts man (148), east hampton on Dec 8, 10 10:40 AM
And the founder of CVS I'm sure was a mom + pop guy at some time, had opportunities to expand and he did. It's what this country is all about... competition. If you can't beat your competitor, get out of the game.
By Nature (2966), Hampton Bays on Dec 9, 10 8:34 PM
We don't need MEGA anything. Drug stores, banks, ANYTHING. It's not healthy for competition, especially on a local level.

We don't need Wal-Mart, CVS, and all the other MEGA corporations.

You want competition? How about a country full of little guys duking it out everywhere? How about local needs, being filled by local people, instead of some cookie cutter, corporate clutter dominating our country's landscape?

Someone like Frank, beating a national, mega chain, with ...more
By Mr. Z (10417), North Sea on Dec 15, 10 12:00 PM
ALL YOU PEOPLE DO IS CRY. DRUG STORES ARE NOTHING MORE THAN A TOOL OF THE GOVERNMENT
By jose1 (28), southampton on Dec 14, 10 3:22 PM
1 member liked this comment
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