“Dream” location ends its run

Gleannloch Ace Hardware, the “Dream Ace” store that opened in the Houston suburb of Spring, Texas, in June 2007, began liquidating its merchandise last month.

The 15,500-sq.-ft. store opened after Gower Talley had beat out more than 5,400 hopeful entrepreneurs in a nationwide contest and was awarded the $1 million Ace store.

Talley announced earlier on his personal Web site, thetexasboardroom.com , that he would be liquidating his assets in Houston and returning to Portland, Ore., in the spring.

“This has been an extremely rewarding experience; however this is not where my family and I want to be permanently. It is time for my family and I to come home. I am liquidating my assets in Houston, and I will be returning to the Portland, Ore., area in spring 2009.”

Many hardware store dealers expressed surprise at the outcome of what had been a pleasant public relations story for the industry. “Help me understand this,” said one dealer. “This guy is closing a money-making location in an underserved area because he is homesick?”

Talley elaborated on his decision to close Gleannloch Ace Hardware with a posting on the Ace Forum, the co-op’s employee message board.

Talley’s statement, made in response to comments from other Ace retailers, read, in part: “We went into this for the long haul. We bought the house behind our store. We will lose money when we sell it. Liquidation was an absolutely last resort option and was not my idea. We will be fortunate to escape this experience with the wherewithal to pay our debts, move home and start over. The cost of occupancy of our rented building here is well over $300K per year.”

When reached for comment, Ace spokesman Christopher Boniface said, “As Gower Talley noted on his Web site, thetexasboardroom.com , he plans to exit the hardware business and pursue other opportunities in Oregon. We wish Gower and his family well in their future endeavors.”