COLLIERVILLE, TN (abc24.com) – An iconic hardware store is closing up shop after nearly 150 years of business.
The family-owned McGinnis Hardware in Collierville opened its doors in 1866. Owners will close them December 22nd.
You can find practically every tool for any job at McGinnis Hardware, but nothing here could fix the impact of a broken economy or alleviate the crippling pressure of big box stores.
“Too many of them for us to survive anymore,” said Jeff Russell, an assistant manager at McGinnis. He has worked in his family's business for 21 years, but the shop's battered finances guarantee it won't be around for his 22nd.
“We've been seeing it coming for a pretty long time but about a month ago we finally hit rock bottom and said we can't keep doing it,” Russell said.
Several small hardware stores in Collierville have closed their doors over the years. McGinnis is the sole survivor.
Unless they radically change their business model, locally-owned hardware shops will continue to feel the pinch from big box stores. Most customers are likely to go to the Home Depot just two miles away from McGinnis Hardware.
News of McGinnis Hardware's looming closure is bringing out loyal customers like Tim Garner. He's been shopping here the past 40 years.
“The people have always been the best to deal with. You can always get a good morning out of them and it's always been that way ever since I've been coming here,” Garner said.
With its shelves almost bare, McGinnis is holding on to the memories built after 146 years in business - memories that no broken economy or cutthroat competition can take away.