Despite erroneous reports stating it will close, Santa Monica, Calif.-based McCabe’s Guitar Shop will see a passing of the torch instead.
“McCabe’s may be under new ownership, but it’s still in the family! Despite all that has happened, we are looking forward to the next 60 years in Santa Monica!!”the retailers wrote on Facebook.
The store, a mainstay since 1958, has hosted a plethora of famous artists on its stage, including R.E.M., Tom Petty and Lisa Loeb. According to the Los Angeles Times, owners Esperanza Riskin and Bob Riskin considered closing the store after being denied during the first round of paycheck protection program payouts in March. However, the Riskins were approved during the second round.
Instead of closing, the Riskins, who have co-owned McCabe’s for more than 50 years, will instead retire due to concerns about COVID-19. The Riskins have passed the torch to their daughter and son-in-law, Nora and Walt McGraw.
“It’s sooner than we wanted to,” Esperanza Riskin told the Times, adding that “it’s kind of been heart-wrenching, actually. We’re really sad.”
To see the L.A. Times story, click here.
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