A longtime jewelry and gift shop on Newbury Street will close at the end of the month after its rent was increased by a new landlord, the owner said.
Firefly Jewelry & Gifts at 270 Newbury St. will close at the end of May when its lease expires, owner Marty Checkoway said.
Firefly's building was purchased last summer and the store would have to take on "a very steep rent increase," Checkoway said, to renew its lease at the end of May with the new landlord.
Checkoway said he has been unable to secure a new location, but will continue to research spaces that will suit the business.
The store is currently offering 25 to 70 percent off its entire stock.
This is not the first time a shop has pointed to rising rents as a reason for closing. In March, Audrey’s Pet Supply closed after being outbid by a frozen yogurt chain offering to pay a rent that equaled a 133 percent increase.
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