Facing an enormous rent hike and an increasingly competitive retail landscape, Pearl River Mart’s husband-and-wife team Ming Yi Chen and Ching Yeh Chen were forced to close the doors to their iconic Asian emporium in March of this year. The couple regarded the closure as a bittersweet ending to a 45 year journey that began with a small shop in New York City’s Chinatown and concluded with a 30,000 square foot department store in the heart of SoHo. Although the Chens reached out to many interested parties and investors to continue Pearl River in some form, they were unable to find a suitable successor – until they spoke to their daughter-in-law. [Read More]