Fifteen months ago, Silberg sold a majority interest in the family business to childhood friends Shuman and partner Brad Bondroff. Jon Ferber, co-owner of Advertising.com, the Internet advertising company that he eventually sold to AOL, became chairman of the board.
The new owners, who also own an online liquidator, the Asset Store in Baltimore, had plans to modernize the no-frills retailer, where workers still used pencils and paper to record inventory and price merchandise. The economy turned before Shuman and Bondroff could put their plans in place. Silberg and Carton could not be reached for comment yesterday.
"Unfortunately, we never got a chance to get everything launched," Shuman said. "We had gotten everything geared up to launch an Internet site and we would have had to commit capital to do that. But not knowing how long the downturn would last, we needed to keep the capital going to the retail store operation."
FOR THE RECORD - Harford County retailer C-Mart will close Oct. 18. An article in Monday's newspaper gave an incorrect date.
The Baltimore Sun regrets the error.
C-Mart workers began liquidation sales a couple of weeks ago, discounting goods as much as 90 percent.
Yesterday, the store looked like C-Mart during its better days as customers crowded in for the discounts. Shoppers pushed overflowing carts. Lines stretched through the store.
But most customers didn't know these would be C-Mart's final shopping days.
Esther Reid of Joppatowne figured the deep discounts were because the store was getting ready to restock merchandise.
The 52-year-old owner of a cake-making business has shopped at C-Mart since she was 18. She said she could dress her kids in trendy name brands without spending a lot. She was surprised and saddened at news of the closing.
"This is the best place to shop, especially if you have kids," she said, resting in a chair next to a shopping cart full of clothes. "You can get a good outfit for not a lot of money."
Diane Silvestri has shopped at C-Mart since it opened. She remembers once nabbing a pair of designer shoes originally priced at $300 for $40. Another time, she bought a rocking chair for $10. It was sometimes a chore digging through the crowded racks of clothes and shoes. But it was a task she came to enjoy.
"I'll miss them," said Silvestri, a 67-year-old retired nurse from Joppatowne. "You had to hunt and peck, but it was worth it."
Some local retail experts said they were surprised at C-Mart's closing. While the economic climate has forced many retailers to shut some stores and has put others out of business, discounters have had an advantage because shoppers are looking for bargains.
