“High-end, high-quality retail is what enhances, more than anything else, property values.” Words of wisdom from Mr. Koss! Is that what Malibu really needs, more “high-end, high-quality retail?” The only thing that is enhanced is Mr. Koss’ pockets. Local businesses are forced out by landlords, such as Mr. Koss, who double or triple the rent when your lease is up. Are “high-end” boutiques beneficial to local residents? What’s in it for Malibu kids? After school they can stroll through the “high-quality retail” boutiques and look at overpriced tee shirts because there is nowhere in Malibu to rent a video or buy a CD or see a movie.
We, too, have become victims of the Malibu mantra-more rent, more money. After five years of serving families in Malibu, the Palisades and Santa Monica, we lost our lease, as of July 15. We cannot afford to pay double rent. It breaks our hearts to have to close Penny Lane. To those of you who were touched by us, thank you. To those who never made it to our shop, you’ll never know what you and your kids missed.
“Hello, Goodbye.” (The Beatles)
Sandy and Harriet Helberg