Friday, February 23, 2024

Capital Iron plans on shutting its doors for good after 88 years of service

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Over the weekend the news of Capital Iron’s closure rocked Victorians.

The locally owned and operated general store with a little bit of everything has been a staple of Victoria’s Store Street since 1934. 

Back then, the business was opened as a scrap store and ship dismantling business. Between 1934 and 1971 the business dismantled and scrapped over 100 ships.

During World War II the business pivoted with the times and also became a popular surplus and salvage storefront.

Demand grew beyond surplus and the store started stocking popular hardware lines. By 1971, the business’ scrapping days were over and the new focus was on retail.

Capital Iron continued to grow and in 1988, the Sidney location on Bevan Avenue was opened. 

In 2014, another spawn of Capital Iron came to the ever expanding Langford on Langford Parkway. 

Mike Black and his wife Evaline Black are the third generation of the family to be at the helm of the family business, along with their daughter Kylie Black.

The Sidney location shut its doors in January 2020, just before the COVID-19 pandemic took hold of the world.

Related:

Capital Iron store in Sidney announces closure in January 2020

On Saturday it was announced that the Langford location and the Store Street flagship of Capital Iron would be closing up shop for good on December 17th.

Almost 50 employees will be left unemployed as a result of the business closures.

After 88 years of serving Greater Victoria, the economic climate just became too much for the business to remain open for business and profitable.

In 2022 inflation has reached an all time high, supply chain issues have become the bane of the retail world’s existence and the COVID-19 pandemic changed the way any business operates on a day-to-day basis.

“The Capital Iron Retail Store means a lot to the Black family and the community, and that’s why when we purchased Capital Iron Lands two years ago, we invited them to stay in a long-term lease without a rent increase,” said Jon Stovell, President/CEO, Reliance Properties.

“We wish Mike and his family the best and thank them for their tremendous contribution to Victoria.”

The decision to close up shop was no doubt made with a heavy heart.

mm
Curtis Blandy
curtis@victoriabuzz.com

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