Closing Shop   

When a business that was open the day before sports a for rent sign the next day, passersby give a curious look. But behind the shuttered storefront often lies not only a shattered dream, but a family drowning in financial woes and emotional distress

Drive the streets of Lakewood and you’ll see towering office buildings, upscale restaurants, and strip malls filled with Madison Avenue-style boutiques selling tableware, luxury gifts, jewelry, and high-end clothing for babies, children, and teens.

You might be forgiven for assuming that this is a high-income town, where just about everyone can and does spend lavishly on a steady basis. But those in the know caution aspiring entrepreneurs to tread carefully in Lakewood. Beneath the “luxury for all” facade, they say, there are actually many income brackets. Despite the thriving establishments and posh boutiques filled with paying customers, there’s a significant chunk of the population that feels fierce and sustained peer pressure to present a certain way — but can’t necessarily afford the price tag that comes along with it.

Entrepreneurs who build their dream businesses on the assumption that people will just keep buying, these insiders caution, might be in for a rude surprise.

Raising the Alarm

In 2021, Sruly Weinberger, a hardworking chassidishe businessman, moved from Boro Park to Lakewood, eager to raise his family in a spacious house with a backyard. At the time, Lakewood was exploding, expanding into South Lakewood, Toms River, and Howell.