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Post and Nickel

The Post & Nickel has announced plans to close its  Lincoln store at 14th and P streets after 52 years in business.

One of the longest-tenured downtown retailers is closing its doors after more than half a century.

The Post & Nickel at 144 N. 14th St. announced on its website that it will be closing after 52 years in downtown Lincoln.

"We are sad to announce that The Post and Nickel will be closing its doors. We have been honored to bring men’s fashions & footwear to the Midwest for 52 years! Thank you to all the customers and employees who have supported us over these many years," a post on the store's website said.

The store did not give a firm closing date, but Tafe Sup Bergo, whose family owns the store, said the final day will be dependent on how fast inventory sells and how soon any new tenants might want to occupy the 12,000-square-foot space.

The Post & Nickel has struggled in recent years. It closed its Omaha store in 2016 and last year stopped selling women's clothes and shoes at the Lincoln store.

Sup Bergo said in an email that the business "never got over" a city water main break that flooded its basement and the basements of other buildings on 14th Street in the fall of 2011.

"It was a huge hit, literally, with over 96,000 gallons of water pumped out of our basements," she said.

The store filed two lawsuits against the city seeking more than a half-million dollars in damages for destroyed inventory and loss of property value. Those lawsuits were settled in 2014 for $150,000.

"Insurance policies don’t cover city water main breaks, not even flood insurance, and the city is self-insured," Sup Bergo said. "Professional cleanup and repairs were a fortune."

The store started as the Hitchin' Post, a men's-only clothing store, in 1966. The Wooden Nickel, selling women's clothes, was added two years later, and the Omaha store opened in 1971.

Things were a little different back then, Sup Bergo said.

"When my parents started the store in 1966 there were lines around the block when they had sales, there wasn't as much competition and there certainly wasn't online competition," she said.

Sup Bergo said closing the store is a difficult decision after being open for so many years.

"It is truly something that will be missed and is incredibly hard to let go of," she said.

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Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Business editor/reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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