Wellesley’s David Walker Bids Adieu as Shreve, Crump and Low Plans to Close in Chestnut Hill

The logo of Simon Property Group.

Image via Wikipedia

In 2007 David Walker, Wellesley native and owner of jewelery store David & Co, purchased the venerable institution of Shreve, Crump & Low out of bankruptcy.

In a glorious pledge to once again restore the Boston jewelery store’s eminent position amongst its peers, Walker purchased millions of dollars of inventory, amassing quantities of impressive gemware.

By the end of 2007, the U.S. was in a recession and by last Saturday a consolidation sale was underway at the Shreve location in the Chestunut Hill Mall.

Talks regarding lease arrangements with Simon Properties had broken down and after a 30 year run at Chestnut Hill, the jeweler will forever close its Newton location by the end of February, leaving only the flagship operation on Boylston st. in dowtown Boston.

According to a report in the Boston Globe, Walker said that, “Simon wanted to increase rents about 40 to 50 percent and he could not afford to stay, particularly as sales have slowed 10 percent in recent months. Walker said he hopes to transfer a majority of the 22 employees working at the Chestnut Shreve to the downtown location and to his David & Co. shop.”

More:

Shreve Closing Chestnut Hill Store/Boston Globe

A Tale of “Shrevival?”/WBUR

JOHN PRESCOTT

BostonKayakGuy

Top Real Estate Agent for more than 14 years, serving the real estate needs of  Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities.  www.johnprescott.net

JOHN PRESCOTT

Vice President

Century 21 Commonwealth

508-523-9252

BostonKayakGuy…The MetWest Scene

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