New Owners of Beacon Paint & Hardware Are Out; ‘We Decided to Let People With More Money Run It‘
Beacon Hardware & Paint on it’s first closing day.
By Carol Tannenhauser
Brothers Segundo and Orlando More owned Beacon Paint & Hardware for about four days last week before they sold it to the owners of Gartner’s Hardware, another long-time local hardware store, located on 72nd Street between Columbus and Amsterdam Avenues. A well-placed anonymous source told us the new-new owners plan to “renovate the space and start from zero.”
Segundo and Orlando More.
When we reported on their acquisition of the 120-year-old hardware store on Tuesday, the Mores — and the neighborhood — were flying high. It was another example of the American Dream coming true: immigrants from Peru work as superintendents on the UWS for 35 years, then buy the hardware store where they once bought supplies. Make no mistake, the brothers still personify the Dream; Beacon would have been the third hardware store they owned in the neighborhood. But on Thursday night they made a business decision, based on new circumstances and restrictions that arose. Segundo assured WSR that the deal was a good one for the family.
The second closing.
“On Friday morning we made the decision that we didn’t have the resources to carry it going forward, given the new circumstances,” Segundo told WSR late Sunday afternoon. “We decided to stay with the two other stores we own and let people with more money run the Beacon space.” (The More family owns 73rd Street Hardware, between Columbus and CPW, and 105 Columbus Hardware, on 105th Street.) “It’s better for us and for the neighborhood,” he said. “The landlord let us out of the lease.”
The landlord, The Brusco Group, was unavailable for immediate comment. We were unable to reach the owner of Gartner’s Hardware.
*This story has been revised to more accurately portray the spirit of the events that occurred.
I am the daughter of Segundo More and by no means did “they come down to Earth” These patriarchs worked and work hard to be where they are now. The fact that they decided what was best at the moment, does not justify your rude comment of them flying high and then coming back to Earth. They are still the example of the American dream and they can fly as high as they want to. Thanks – Eva
Eva, I mean no disrespect but how else does the Rag interpret them only owning the business for 4 days? It doesn’t add up from a business perspective. Maybe you can lend more insight (and credibility) on behalf of your dad and uncle.
At Eva ,,, true business people don’t need to answer or justify business decisions. No need to explain. Some fail to recognize that sometimes its best to take a step back, before make two steps forward. Continued luck and the UWS supports you!
😉
I agree that the way this was written is pretty condescending especially as these two men already have two other businesses that they own and have risen pretty high already. Perhaps that wasn’t the intention but that is how it reads.
Congrats on the quick sale! Wishing your family continued success with their business and the same to beacon hardware
I love Gardner’s. Wonderful customer service. It has been my go to hardware store for years. I wish the owner’s much success with their expansion. I will visit their second store as well since it is closer to my residence,
Segundo and Orlando by no means came back down to earth, owning Teo already successful hardware stores on the UWS including Supreme on 73rd. They also both run a successful contracting business for over 15 years. While true businessmen don’t need to explain, inaccurate information must also be rectified. As a writer, I believe she could have used a different term.
In defense of the writer, their phrasing was neither rude nor disrespectful.
If you buy a business it means you have expectations that you can make a go of it. If you then make a decision “that we didn’t have enough money to carry us” that is the very definition of the phrase “come down to earth”.
Eric, you are absolutely correct. The original wording was neither rude nor condescending. It’s a shame that overly sensitive people can pressure a writer and publication to change the original wording because of their “feelings”. The men THEMSELVES said they realized they didn’t have the adequate capital to handle that store. It’s as if people want to pretend money, or lack thereof, had no bearing on this situation and the men decided not to pursue the endeavor based on other parameters. Facts don’t care about feelings. These successful businessman “bit off more than they could chew”. (I hope that doesn’t hurt anyone’s feelings, god forbid!) They luckily and humbly realized they got in “over their heads” (too harsh??) before it was too late. I hope this writer and WSR don’t make a habit of acquiescing to the overly sensitive going forward. People need to lighten up.
Thanks for the defense — and the criticism. Turns out I agree with both and have revised the story.
Admirable to revise the story in light of the comments posted here.
This Is a great story written by a wonderful reporter. Kudos to the More brothers for making a realistic business decision. Over the years I’ve seen wonderful businesses struggle because they have overextended. Knowing when you have enough outlets is a talent and they have likely made a sound choice. I would add that if coronavirus gets worse we will see significant economic slowdown and so it’s a good time not to open a third hardware store. Let’s not criticize this reporter. Her coverage of our beloved neighborhood is a huge contribution.
Both Supreme and Gartners are great stores . Wonderful people and always helpful . The fact that both of them stepped up individually in one of the most challenging retail environments ever to continue Beacon shows their incredible business sense and how significant they are as part of the fabric of our community in the west 70s . I wish all of them the best of luck and will continue to be a customer at all of their stores