Polyester Records To Close CBD Store

Polyester Records is closing its CBD store in Flinders Lane after six years, citing escalating rent charges for its decision.

Owners Nate Nott and Simon Karis will now focus on its Brunswick Street, Fitzroy store, which began 30 years ago. They promise “some great changes” starting with a redesigned website within the month.
A statement released this morning explained: “When the Flinders Lane store opened some six years ago, it was a good idea in the climate; CD sales were stronger and vinyl was still experiencing a rapid rise (which is debatably still on the up). However, given the ever-increasing rent in our current location the city, we’ve had to make a call to downsize back to one store for now. We feel it’s the smart move to make in the short term and, after a period of stabilising, we can look to return to the city to a more size-and cost-efficient space.”
A closing date has not been determined for the Flinders Lane store, which was renowned for some of its great in-store sessions. This will depend on the real estate agent, apparently. But they hope to be still operating on Record Store Day on Saturday April 19.

For more industry news visit Christie Eliezer's Industrial Strength column.