Eighteen months after closing its doors, Capital Iron is ready to swing them open again.
The legendary business, housed in a distinctive red 1862 heritage building on Store Street, is under new ownership with a new look, name and line of products.
Fred Aram, who bought the Capital Iron brand name in early 2023, said the business will open Monday morning as Capital Iron Home Store and will carry everything for inside and outside the home, including furniture, mattresses and bedding, appliances, fireplaces, barbecues and hot tubs.
Aram said he’s invested about $2 million in interior upgrades to the 47,000-square-foot store, expanding the space to include a fourth floor, which had been used as storage under the previous ownership.
Aram also owns West Coast Appliance Gallery at 3090 Nanaimo St., which will continue to operate, as well as servicing appliances sold at Capital Iron Home Store.
Aram acquired the Capital Iron brand and secured a 10-year-lease to the Store Street heritage building from Reliance Properties, which is redeveloping the lands around Capital Iron.
The 88-year-old Capital Iron filed for bankruptcy in mid-December 2022, citing debts of more than $4.29 million.
Capital Iron got its name from its history in the ship scrap business. It was founded in 1934 by Morris L. Greene in the waterfront location, an ideal spot to dismantle ships.
The ship-breaking businesses morphed into sales of ship parts. And over the years, tools, paint, clothing and just about everything you can think of ended up on the shelves for sale.
The company started buying military surplus items after the Second World War and machinery parts from dismantled cranes. The Greene family expanded with goods of all sorts acquired in government auctions, distress sales and fire and flood insurance claims.
Fishing and camping supplies as well as clothing and other items were added later, while the basement held ship parts and other antiques until the store closed in 2022.
