MINNEAPOLIS — A south Minneapolis bike shop is closing its doors after more than two decades serving the community.
The Hub Bicycle Co-Op is closing its flagship store on Minnehaha Avenue and will shift all of their operations to their University of Minnesota location at 410 Southeast Oak Street.
"There are many factors that led to the necessity for this decision," the company posted on its website. "The cycling industry and the outdoor retail industry are going through difficult times; the struggle to compete with larger online retailers, and reduced profit margins on our products are impacts felt by all small businesses. Increased costs combined with declining sales made it unsustainable to keep our large shop open."
Henry Slocum, worker and co-owner at The Hub, told KARE 11 on Monday that, "We had kind of this big bubble in the late teens and then again with COVID, everybody getting outside. We had another spike and that's caused a lot of issues with inventory management. There was this huge demand spike. All these orders got placed and then at some point that demand has to slow down. The inventory has just been building, and building, and building since then without the foot traffic to support it."
Slocum also mentioned struggles with staffing and finding the right combination of hours, wages and skilled labor for the job.
The Hub, which opened in 2002, is known for its open shops, DIY space and community classes.
"It's great service. I'm very sad that it's closing," said Jonas Bomster, who lives nearby. "It's also a community workspace where you can come in and work on your bikes... learn how to put the parts on, learn how to fix it."
According to Slocum, they are working to keep as much programming as they can.
Slocum said there is hope they can return to the Longfellow neighborhood.
"We've been really struggling to hold on for the last three years, especially. It feels hard to leave them and we really don't want to be... so we're doing what we can to find a way to stay in the neighborhood or come back here somewhere but obviously it's been a challenge," Slocum said.
Any money raised in excess of their operational costs during the transition will be distributed evenly to laid-off staff members, according to the owners.
The last day at the Minnehaha location will be Sept. 30. Repair intake will stop on Sept. 18, or as soon as they are booked through September. While operations will continue at the U of M location (401 Southeast Oak Street), owners say they'll be transitioning from working in a 12,000-square-foot space to a space of about 600 square feet.
"We pledge to continue to help keep you rubber side down, and to always welcome you into our space no matter the square footage or which side of the river we call home," the owners said in a statement.
Those interested in donating to The Hub, can do so here.
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