AKRON, Ohio — In less than two weeks, Akronym Brewing will permanently close its doors.
In a social media post, the downtown Akron business announced the news saying, “there have just been too many obstacles to overcome.” They intend to remain open until Oct. 19, and then shut down. The closure comes less than a month after the brewery shuttered its second location in Medina.
The brewery alluded to financial struggles as the reason for closing.
“Although it was our intention to consolidate operations and reestablish ourselves by focusing on distribution, changing circumstances and narrowing opportunities make that impossible,” the business said.
In March, R. Shea Brewing in downtown Akron closed. In their social media post about the closure they said the craft brewery "is the most challenging that it’s ever been."
"We have been fighting interest rate inflation, wage inflation, material inflation, steep declines in distribution and now declines in taproom sales," R. Shea Brewing said. "We can’t fight anymore."
3News reached out to the Downtown Akron Partnership about the general health of the downtown area.
Communications Director Dominic Caruso acknowledged Akron experiences challenges in retail and restaurant spaces like all cities, but said he’s hopeful for the future.
Caruso says developers are converting more unused office space into housing, which will lead to more consistent crowds downtown.
“A lot of that investment is starting to pay off, it’s starting to counteract some of the effects of the pandemic and the construction that we've all been sort of struggling with in the last few years,” said Caruso. “We’re starting to work more to see that density that we need to see of foot traffic downtown for the storefronts and the businesses.”
Caruso says Lock 3 is set to reopen by December, which should attract more people with public events. He believes by building up that downtown traffic, restaurants and businesses should all reap the benefits.