Both ScholarShop stores, including the one at 8211 Clayton Road near Richmond Heights, are set to close in mid-2017, according to the St. Louis Post-Dispatch.
Revenue from the nonprofit resale business has declined in recent years, Faith Sandler, executive director of the Scholarship Foundation told the Post-Dispatch. The stores raised more than $1.3 million a year in its peak, but last year was down to $900,000 toward the foundation’s annual $7 million budget.
The ScholarShop suffered because of the state of retail in general, Sandler told the Post Dispatch. There are fewer high-end shoppers buying premium designer clothing, which means fewer such donations.
The groups mission is to provide interest-free loans to students who couldn’t otherwise afford a postsecondary education, and that will continue despite the shops’ closing.
The ScholarShop will continue to accept donations through the end of the year.
Read the full post in the St. Louis Post-Dispatch.
Scholarshop has the 63117 zipcode like RH, but it is actually a Clayton business. It USED to be in RH at Westroads, I was told, but when the Galleria was built decades ago, it moved across the street to Clayton. The city lines are a bit confusing. 🙂
Thanks, that makes sense, since north of Clayton road is Clayton on the east end of RH too.