Business incubator B13 The Baker’s Dozen to close permanently
TENANTS OF THE B13 The Baker’s Dozen business incubator located in Old East Village have received a letter from founder William Older notifying the space will close permanently on May 29.
According to CBC News London, the letter states, “In light of recent events, most notably that of the COVID-19 pandemic, there’s no options left that allow B13 to keep financially afloat.”
When Older bought Lilley’s Corner property in June, 2017, he had a vision to transform the block of largely vacant properties into a destination for independent retail, arts and culture. About 18 months later, he had successfully filled 16 commercial spaces at 609-629 with tenants and created a new buzz at the corner of Dundas and Adelaide streets. The number of tenants had since fallen to five.
Older had recently sold the building, but continued to hold the primary lease while sub-leasing space to B13 tenants.
In a news release announcing the closure, Older stated that in evaluating the business plan all store fronts need to be open on a daily basis and “to that end B13 management had, in the past several months, begun a campaign to attract more tenants that would fit that model.”