Krispy Kreme on the Run from 16th and Chestnut Friday, July 13, 2012
A reader sent us this listing from Loopnet, which indicates that the 2,000 sqft space that's been home to Krispy Kreme for a little more than a year is available for sublease. When a small, local business like Ramen Boy folds after a short time, it's not really such a surprise. But when a store that's part of a giant corporation can't make a go of it in just a year, it's fairly unexpected, ya know?
Krispy Kreme is located at 41 S. 16th St., just a tad north of the corner of 16th & Chestnut. While Liberty Place is across the street, and the corner gets all kinds of pedestrian traffic, the Krispy Kreme is very easy to miss for people walking past on Chestnut Street. And not nearly as many people are walking north on 16th Street, above Chesnut. We'd guess that the Children's Place, positioned right on the corner and which moved to this location right before Krispy Kreme opened, is doing pretty well.
Alternately, it could simply be that the shine has come off of the Krispy Kreme brand. As recently as a decade ago, Krispy Kreme store openings elicited celebrations from local communities and resulted in all-night campouts in anticipation. The ongoing success at Dunkin Donuts, as well as the buzz generated by the planned new Federal Donuts location indicates that this isn't some anti-donut situation, but rather a reduced level of enthusiasm for a brand that people once went nuts over.
So now the question becomes, who will rent out this space? What kind of business can succeed here, right near a highly trafficked corner but just a few steps out of the way for people? Any ideas, kind readers?