It’s been two weeks since the news broke that the Pawn Shop would be no more, and now Permanent Records has announced that it will be closing.
The reason? Rent increases. Co-owner Mike McDonald (whom you may also know for his solo music and his role in Jr Gone Wild), told the Edmonton Journal that Permanent’s monthly rent has increased by approximately $400 over the course of the last five years. Unfortunately, revenue being brought in hasn’t covered the costs.
The story is becoming all too familiar as small local businesses struggle to keep up with increasing rent costs along the busy street; as they close, Whyte Avenue loses more of its eclectic character. There isn’t a firm closing date for Permanent Records just yet, but its lease is up on October 31, and McDonald said he is willing to vacate before that if someone wants to move into the space, which he’s operated alongside Clint Anderson since 2010
In the meantime, McDonald and Anderson are hoping to sell as much of the store’s inventory as they can, though McDonald points to people being unwilling to pay for CDs and vinyl as a reason for the store’s lack of revenue.
Once Permanent Records closes, that leaves three independent record stores in the Whyte Avenue area: Blackbyrd Myoozik, Sound Connection and the Gramophone.