In a letter sent to vendors and event staff last week, Denver Mart announced it will permanently close its doors this spring.
"It is with a heavy heart that I write today regarding The Denver Mart’s pending closure. The property since March 2020 has been default with its lender, is now being placed into a receivership proceeding, and will be sold through this receivership process by the end of March 2021," read the letter obtained by KDVR.
The letter continues on to say it could not recover from the losses in the past year.
"They couldn't pay their bills, so it was taken over by the bank," Ben Furmisky, CEO and president of the Fly Fishing Show told KDVR.
The show was meant to celebrate its 25th anniversary at The Mart this year.
Vendors and event staff were told that all events scheduled after April 1 would be canceled and vendors need to vacate the building by April 30.
Furmisky told KDVR he believes COVID-19 restrictions were what led to Denver Mart closing. He said only 75 people are allowed in the 1.5 million-square-foot building at one time.
"That has to be something like .1 percent capacity," said Furmisky. "When they were filling out their paperwork, there was a box that they checked relative to the nature of their business that said, 'special events.' Had it said 'retail,' they would be allowed to operate under completely different regulations," said Furmisky.
In the letter, the owners wrote they hope to create a new mart at a different venue and are currently gauging the interest of its vendors.
Denver Mart will be closed to the public no later than May 30.
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