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Another business closes on Mass Ave, owner of Mimi Blue says economy is to blame

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Posted at 6:27 PM, Feb 01, 2024
and last updated 2024-02-01 19:37:17-05

INDIANAPOLIS — As businesses open up, others are closing down, several of which have been on Mass Ave.

Some say it's not indicative of what's happening downtown, but rather a much larger issue.

"I remember how downtown was. It was really cool when I was a little kid," Gerry Kosene, owner of Mimi Blue Restaurant, said.

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Kosene says he remembers the vast changes downtown's landscape has seen over the years.

"When we first came here 10-years-ago, this end of Mass Ave. was pretty quiet," he said.

But since then, businesses have boomed on the north end of street.

With other places opening up and the addition of Bottleworks, Kosene says there's been no shortage of customers.

"We welcomed Bottleworks as real estate developers, which is our core business. We knew what impact they would have and they had a great plan. They've implemented it extremely well," Kosene said. "There is a real community here and a real market need here."

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Despite that, Mimi Blue has decided to close their doors.

The owners are selling, but not because of a lack of business.

"It had nothing to do with the location, the location is fabulous. The cost of goods [and] the cost of labor over the last 24-months is up almost 30%," Kosene said.

Sadly, the economy has played a role in the closure business across the country.

"We cannot raise our prices in good conscious, and lay it off on the consumer in order to rationalize staying in business. That's the simple part of it," Kosene said.

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Mimi Blue isn't the first business on Mass Ave. to shut their doors in recent months.

Mimi Blue, Homespun and Roosters in the same block have all closed.

Just down a few blocks, World of Beer closed too.

"It's not an epidemic to Mass Avenue, it's the environment in general," Kosene said.

Kosene is optimistic for the future of Mass Ave. moving forward.

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"I believe people can make it, it's just a question of the rents being affordable and do they have a really good business plan," Kosene said.

Mimi Blue did pay all of their employees severance.

As for who will buy the property, that is still up in the air.

Anyone who bought a gift card after Oct. 1, 2023, will be able to be reimbursed until March 30, 2024. Just email klw@mimiblue.com