Halifax restaurant Economy Shoe Shop sold due to Nova Centre impact: owner

A well-known Halifax restaurant has been sold off due to the financial hit it took during construction of the Nova Centre, its now-former owner says.

“Our bottom line has dropped probably $2 million in that time since they started the construction,” Victor Syperek, longtime owner of the Economy Shoe Shop, said on Saturday.

Tweet This Click to share quote on Twitter: "Our bottom line has dropped probably $2 million in that time since they started the construction," Victor Syperek, longtime owner of the <a href="http://globalnews.ca/tag/economy-shoe-shop/">Economy Shoe Shop</a>, said on Saturday.

He said he opened the Argyle Street restaurant about 22 years ago, noting: “The Shoe Shop was the busiest bar in Halifax for years.”

READ MORE: Downtown Halifax businesses take legal action over Nova Centre construction impact

Since the construction of the centre across the street began years ago, Syperek said many have avoided visiting the area thanks to fewer parking spots, noise and debris, among other factors associated with the development.

The construction issues have spurred business owners in the area to initiate legal action, which Syperek is part of.

Area business owners are also unhappy with the timing of a streetscape project, which will result in no patios being allowed to operate on the same stretch of the street during the upcoming summer months.

“It’s just one more thing piled on the last few years. It’s making it really, really, seriously hard for the businesses down here. I know a lot of people think that if you own a bar or restaurant, you’re rich. That is BS,” Mike Campbell, owner of The Carleton Music Bar & Grill, told Global News on Friday.

READ MORE: Building construction hurts downtown Halifax businesses’ bottom lines

His restaurant previously turned to crowdfunding to try to alleviate similar problems.

Syperek spent Saturday morning packing up food and other items from the restaurant.

“Losing… my baby, as it were, this place, is bittersweet,” he said. “It’s been so bad for the years that this has been declining that it’s a relief to finally end the chapter.”

Tweet This Click to share quote on Twitter: "Losing… my baby, as it were, this place, is bittersweet," he said. "It's been so bad for the years that this has been declining that it's a relief to finally end the chapter."

However, Economy’s closing isn’t the last Halifax will see of Syperek — he says he’ll be focusing on The Local, a newer restaurant on Gottingen Street.