December 7, 2020
Pearl River Mart will shutter its Tribeca flagship early next year, store owners announced last week, becoming the latest New York City institution to shutter because of the coronavirus pandemic. In a blog post, company president Joanne Kwong said negotiations with the landlord "have stalled" and that he "has made clear his desire to use the courts to recoup every dollar he can, not just from our business, but from our personal assets." Despite the closure, Pearl River Mart, which has sold one-of-a-kind Asian-inspired decor and cookware in Manhattan since 1971, will keep its stores and new food concept in Chelsea Market open and the company said it has already secured a new location in the neighborhood.
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