The Bonfare Market located at 650 Central Avenue in the Neptune Plaza Shopping Center is slated to close its doors in mid-September. In order to sell down their $300,000 backstock of alcohol, all liquor and wine is 30% off.
Owner Lionel Singh told the Alameda Post that the landlords of the property decided to raise their rent from $10,000 a month to $16,000 a month. Singh and the Bonfare Market franchise’s parent company tried to negotiate and were willing to pay $12,000 a month, but their offer was rejected. As a result, they are closing their doors permanently.
Singh said that he has operated Bonfare Market for almost 11 years and is sad to close up shop. When asked what he will miss the most about his business, he said, “The neighborhood. I built a good relationship with a lot of the customers here. So many people are upset. It’s unreal how upset they are.”
Singh doesn’t plan to open a Bonfare Market in another location and disclosed that another franchise, Bevbox, was interested in taking over the space. According to Singh, Bevbox was willing to pay $15,000 a month, but the landlord rejected that offer as well. It is unclear if the space will be rented to another tenant in the near future or will remain empty…