We reported in January that the 12th and Olive Wine shop had been put up for sale. Today, owner Steven Brown said he can’t wait any longer and it’s time to shut the store down:

Here is your update on the stores situation. We’ve had several groups of wonderfully qualified buyers interested in buying 12th and Olive Wine Company, but alas none could reach a deal with the landlords and I need to get on with the launch of my next project, therefore 12th and Olive Wine Company is going to wind down.

This means sale time! We’ll have great price reductions over the next several weeks on all wine in-stock including our spring pre-orders that are just now arriving as well the substantial inventory that we’ve held in reserve. We’re going to sell it all! I’ll keep you updated on the wine sales and the fixture sales to follow. 

When it’s all over; we’ll drink what’s left, and it will be a great closing party! 

New Hours 12:00 to 7:00 Monday-Saturday

Selling a business seems to be a challenging proposition. The non-sale joins a procession of announced purchase opportunities on the Hill that have failed to come to fruition including whatever ended up playing out around Pike Street Beer and Wine. On Broadway, Charlie’s remains for sale — we wrote about it way back in August 2010 while a more recent example in Kiki continues to hang in there on E Pine.

Brown opened 12th and Olive in spring 2008 in the ground floor retail space of the Onyx condominium building. CHS has found no current filing with the city regarding a new business at the location. The wine shop is a CHS advertiser.

12th Ave is also slated to loose its provider of hard spirits as the state-run liquor store at Pine is slated to shut down.