Therapy, the boutique filled with kitschy knickknacks, cards and clothes on Valencia Street, will be closing after 13 years of business, according to Uptown Almanac. The shop has 10 locations scattered throughout the Bay Area including three in San Francisco, but its Valencia Street location will be shutting its doors in three weeks. Uptown Almanac reached out to the owner, Wayne Whelan, for the details.
When reached by phone, Therapy’s owner Wayne Whelan explained that he simply couldn’t afford the 84% rent increase his landlord demanded. Whelan said he wanted to stay open until the end of the year, and that he was willing to pay the increased monthly rent to do so, but that he couldn’t commit to the new five year lease the landlord was demanding. The landlord, the Daljeet family, wouldn’t have it. “There was no negotiation. It was like, ‘take it or leave it,’” says Whelan.
Faced with a rent that increased from $5,700 to $10,500 as of August 1st, Whelan paid the higher rent for August, but decided that he would be unable to sign a new long term lease at the increased rate.
Another Valencia Street store up on the chopping block is Clothes Contact, who faces a similar situation of sky-high rent and will close at the end of year.