There’s never been a more difficult time to own a brick-and-mortar business.
Some blame the rise of online shopping for that, and they wouldn’t be wrong. Both Amazon and eBay made their debuts in the ’90s, opening up a world that customers had never dreamed of.
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Amazon got its start as a bookstore that founder Jeff Bezos started in his garage after leaving his job as a vice president at D. E. Shaw & Co., a Wall Street firm. Bezos named it Amazon after the world’s biggest river because he planned to create the world’s biggest bookstore — which many would argue he accomplished.
EBay, on the other hand, was founded as a hobby by a French-born Iranian-American computer programmer named Pierre Omidyar. One of the first items he ever sold, back when eBay’s name was still AuctionWeb, was a broken laser pointer (which he managed to get someone to pay $14.83 for).
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While both had humble beginnings, they grew into behemoths that would eventually dwarf businesses they were inspired by. Amazon made $630 billion in 2024, an 11% increase in the previous year, while eBay took in $2.6 billion, a modest 1% increase.
As these titans of industry thrive, other longtime businesses are being forced to call it quits. The most recent one to announce a closure is doing so after more than a century in business.
Pike Place Market gem makes a sad announcement
In a post on its Facebook page on April 11, The Virginia Inn — located in Seattle’s historic Pike Place Market — announced that it would be closing permanently on April 27 after 122 years in business.
“Our lease has been terminated by our landlord, the Pike Place Market PDA, due to failed negotiations for an equitable lease,” the post reads.
“The V.I. — as it’s known to regulars — has a long and colorful Skid Row history dating back to 1903. In the 1980s, we became one of the first art bars in Seattle, showcasing a rotating selection of local artists. We were featured in the iconic ‘grunge era’ 1992 film ‘Singles.'”
The Virginia Inn’s owners ask that patrons join them to commemorate the closing, saying, “Please join us in celebration for what makes the Virginia Inn such a beloved historical institution. Have a drink, share a cry or a story, buy a T-shirt. All T-shirt proceeds will go into a fund for our employees.”
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The owners also requested that Seattle residents who are upset about the news reach out to Pike Place Market Chairs Devin McComb or Zack Cook, as well as reaching out to Mayor Bruce Harrell.
“We have a staff of 20+ people; many long term employees who have dedicated their lives and love to this place. We want to stay!” the post reads.
One patron reached out to Cook and shared a reply they got in the comments of the post, saying, “Virginia Inn has been operating on a month-to-month basis after choosing not to sign a five-year lease extension with terms in line with similar businesses at the Market. Over several months, the PDA offered numerous opportunities to either negotiate a new lease or sell the business, but Virginia Inn did not pursue either path. As a result, the PDA was forced to end the month-to-month tenancy.”
The struggle of small businesses
Many local businesses have announced bankruptcies and shutdowns as of late, painting a disturbing picture for those still operating but struggling to get by.
From looming tariff concerns to lease disagreements such as what The Virginia Inn suffered, small businesses are facing an unprecedented amount of overwhelming challenges — and many believe that there’s no way to survive in the current climate.
However, the Pike Place Market PDA says although current owner Craig Perez will no longer be in the picture, they have a plan for the future of The Virginia Inn.
“The PDA fully intends to find a new steward for the iconic Virginia Inn,” they said in an email to The Stranger.
