1 Photo
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.
