February 10, 2011
Dear Friends and Customers,
You have been loyal and dedicated beyond measure, so it breaks our hearts to tell you that we are planning to close our three stores, sometime in March.
More than two years ago, due in part to declining sales and in part to advancing
age, we decided not to renew our Harvard Square leases. Instead we began a search for a
new owner to re-invent the company and take it forward into the 21st century. The public aspect of the search began in October 2009. Fifteen months later the search has proven unsuccessful.
Our Harvard Square leases have now expired and although our landlords have been
supportive and patient, they are actively seeking new tenants. The Porter Square location has served primarily as logistical support for the Harvard Square stores and, without this mission, cannot stand on its own.
Consequently, the time has come to end our 78-year relationship with Cambridge. We are truly grateful to our wonderful community for the decades of custom and friendship you have bestowed on us. And there are no words that can adequately express our appreciation and affection for the hundreds of fine people who have been part of the Bob Slate staff. With a heavy heart, we sincerely thank all of you.
The company remains for sale.
Our broker, Walter Huskins, can be reached at: Whuskins@RidgeHillPartners.com
Sincerely,
Justin and Mallory Slate
