Updated: 01/14/2014 2:05 PM
Created: 01/14/2014 12:57 PM KSTP.com
By: Megan Stewart
Seven Corners Hardware, which has served hobbyists, homeowners, contractors and other DIY-oriented customers in the Twin Cities since the 1930s, will close its doors.
The closure comes as a result of a real estate deal, said third-generation owner Bill Walsh. The store, which includes 10,000 square feet of retail space and 60,000 square feet of warehouse storage, sits directly across from the Xcel Energy Center.
Seven Corners sells 200 types of hammers, 400 screwdrivers, 170 different files and 4,200 plumbing products. The store currently employs 21 full-time employees.
A couple of years ago, when pop star Madonna came to St. Paul for a concert, a member of her stage and lighting crew stopped by Seven Corners looking for a particularly heavy-duty and specialized type of wrench used to assemble and disassemble stages.
“When the guy learned that we had this in stock, he was quite surprised,” Walsh said. “He bought all ten. And upon learning that we also had holsters for them, too, he bought all of those as well. The tour had been all over Europe and the East Coast, but none of the stores they had visited stocked this particular tool; some of them had never even heard of it.”
Walsh, whose father and grandfather previously ran the store, has operated Seven Corners for 28 years, despite living in California with his family for the past decade.
“I have growing business interests in California and Nevada that have been requiring more and more of my time, and so traveling back and forth between the Midwest and the West Coast has become increasingly difficult,” he said. “Meanwhile, my son is a freshman at Notre Dame, and his career path is unlikely to include becoming the fourth generation to run the store.”
The company retained Tiger Capital Group, LLC, an asset disposition firms, to direct the sale of its merchandise inventories and other assets.