After an electrical fire ripped through the handmade gift boutique Cog & Pearl, at 190 5th Avenue on the corner of Sackett Street, earlier this month, co-owner Kristin Overson reported that about 90% of their inventory was destroyed. Following a “fire sale” of some of the salvageable items at the Fabulous Fifth Avenue Fair, the shop is now hoping for some additional help to reopen with an online fundraiser.
“In order to be able to continue our dream of being a conduit between the artists and customers we so love in the (hopefully temporary) absence of a brick and mortar store,” Kirstin writes on the Fundly page, “we need to raise $35,000 to offset part of our losses and to upgrade, stock, and re-launch a better e-commerce site so it can serve as an interim ‘mini-store’ until we get back on our feet.”
She says that insurance premiums for fire coverage on the inventory was incredibly high, so they “assumed the risk and will get no compensation for our loss,” which they estimate to be more than $100,000, not including the loss of income from being closed.
Photo via Cog & Pearl