A year after opening, the owners of East West Exchange are closing the chapter on their latest business venture.
Owners Chip and Lisa Semrau on Monday said the store would be closing its doors in June.
The Semraus first opened East West Exchange in the Valley four years ago. The couple’s goal was always to provide the community with a place to socialize, exchange ideas, listen to music, get a cup of coffee and read a great book. The center also offered classes in dance, tai chi, martial arts and yoga.
When the recession hit, the couple thought relocating to Payson would provided the much-needed bump in business.
“We cherish all the wonderful people we’ve met over the years and we’ve enjoyed collaborating with many of you to bring great events to the public,” the Semraus said in an e-mail.” Unfortunately, after years of battling a recession, our well has run dry. We have made the painful decision to close the store. We are really going to miss the warm feeling of community that many of you contributed to over the past four years.”
With the Small Business Administration liquidating the store’s assets, it is unclear the exact date of closing.
“We expect to be open for business through June and will continue to offer our regular schedule of fitness classes,” the Semraus said.
Call (928) 468-2435 or e-mail firstname.lastname@example.org for more information.
East West is now open 8 a.m. to 7:30 p.m. Monday-Friday, 8 a.m. to 5 p.m. Saturday, and 10 a.m. to 5 p.m. Sunday.