One of London's oldest and most beloved record stores is set to close its doors. Store owner Jason Gore says rapid rent increases over the last few years are the main reason for his decision to sell the store.
According to Gore, the rent went up by at least a third back in 2009 and he has no other options left as it is showing no signs of going down. The owner says he is giving it until August of this year before he finally calls it quits.
Vinyl collecting has also experienced a massive boom period as of late, but it has become a "double-edged sword" according to Gore. In an interview with the Hackney Gazette, the record store owner says that while the demand is there, he is unable to get hold of vinyl records as easy as he used to.
"Prices have doubled in the last four years because of the increase in interest. It's a bit of a double-edged sword for me", he says.
News of the impending foreclosure of Lucky Seven comes after vinyl sales reached a record high 25 year high. David Bowie's final album "Blackstar" was the highest selling vinyl release for 2016 and sold twice more than Adele's "25", according to a report by New Musical Express.
Lucky Seven is one of the most distinctive shops in Hackney's Stoke Newington Church Street and sticks out like a sore thumb in among all of the restaurants and coffee shops in the highly trendy shopping street. Several other establishments located opposite of and near Lucky Seven have also closed, including a café located right next door. The café has since been replaced by a pizzeria that has also been struggling a bit as well.
Jason remains hopeful that Lucky Seven will remain a record store. A couple of people have shown interest in purchasing it and keeping it a record store, but so far there has been no word on whether or not they will push through with the purchase. The Lucky Seven record store can be seen at the 1:08 mark of the video below.
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