The Fourth and Trade retail store owned by John and Suzanne Raines is closing its location at 131 W. Fourth St. in the former Arcade Building, according to a Facebook page posting of the Downtown Winston-Salem Neighborhood group.
The store served as an outlet for their artistic endeavors — John Raines has been a commercial photographer for four decades — and other local artists.
The store featured a wine and beer bar, live music and educational classes.
Raines responded to Facebook posts that the couple felt “maybe a bit ahead of our time” with the store concept when asked when the store is closing.
“The lease was up for another extended period,” Raines wrote. “I am retiring and want to do some sailing trips while I have my health.”
“The business is up for sale and it would be my fondest desire for someone with a similar vision and lots of energy to step in and keep this sort of store rolling.”
Home-furnishings orders remain on decline in June
Orders placed with home-furnishings manufacturers were at $2.38 billion in June, down 6% from a year earlier, according to a monthly survey released Friday by Smith Leonard PLLC, a financial-services company in High Point.
Orders also were down 3.6% from May.
About 70% of survey participants had a year-over-year decrease in orders during June.
By comparison, home-furnishings retail sales were $9.79 billion in July, unchanged from a year ago, the U.S. Commerce Department reported.
Sales were up 0.4 percent from June.
“While 2018 was a decent growth year that followed several years of increased business, five straight months of declining incoming business is a concern,” said Ken Smith, Smith Leonard’s director of furniture services. “Shipments were slower as well, but only buoyed by eating into backlogs.”
Winston-Salem company spends $975,000 on site
A Winston-Salem company has spent $975,000 to purchase a Greensboro property with a government entity as the tenant, according to a Guilford County Register of Deeds filing Thursday.
The buyer of the property at 501 Industrial Ave. is 501 Industrial Ave. LLC. The company was formed July 22 with Joan Balderamos listed as organizer, according to the N.C. Secretary of State’s corporations website.
The seller is J.B. Harrison Properties LLC of Wrightsville Beach. The tenant is listed as a state Alcohol Law Enforcement office.
Carvana plans to create 400 jobs in Concord
Carvana, an e-commerce platform for buying and selling used cars, said Thursday it will open an inspection and reconditioning center in Concord in the former Philip Morris USA facility.
The company pledges to create more than 400 jobs and spend more than $30 million on capital investments.
Carvana, headquartered in Tempe, Ariz., is known for its distinctive car vending machines. The Concord operation is being designed to create a facility to inspect, recondition, photograph and store cars.
The average annual salary is estimated at more than $38,000, in line with the Cabarrus County average.
The company has been made eligible for up to $1.21 million in performance-based incentives from the state Job Development Investment Grant.