The shop that had been the center of good taste for the last 47 years, Habitat, had finally got to be shut down. It used to be a place of fancy for the middle class.
And the reason was a loss of no less than £88million that it faced for the last three years since the owners of the place had put it to administration. There were 33 such stores across of UK and there are only three of them that continue to work in London. This has been possible since they were bought over by the owners of Homebase.
Habitat had been able to sustain for so long because in words of its owner, Sir Terence Conran, it wanted and always did provide something different, something that was not same like the other houses.
The first of the stores was opened in 1964 and has been doing quite well since then. Trouble began to happen when its owners, Ikea, in 2009 disposed of Habitat and for laughable three euros to Hilco. At that time, the place was already in red and did not do well thereafter.