Owners retire, store closes
The Chicago Daily Herald has reported that Marlowe’s Ace Hardware in Hampshire, Ill., is closing as its owners enter retirement.
Dean and Marge Marlowe have owned the location in downtown Hampshire for 31 years. The State Street store has sold hardware since the 1890s and has been under the ownership of five different families during that time, according to the article.
While the Marlowes would prefer to see the business continue as a hardware store, the couple's three children are not following their parents into the industry.
Efforts to sell the store to prospective buyers have been stymied partly by the banks unwillingness to issue mortgages to the buyers, according to the article.
The store is expected to close at the end of November.