DooeyPyle67
Sadly the age of LHS across the nation are dying off every single day. My last LHS in my area closed up for good due to owner's retirement - 6 years ago...
The local hobby shop has been dying out for over 30 years, at least, and the example you cite is the biggest reason. As the owners of the hobby shops we modelers in our 50s, 60s, and 70s visited got older, they retired, and found no one who wanted to take over their businesses. There was a younger generation of owners, who ran into the same problem.
Add to that, that there were chains in some areas of the country-we had Allied Hobbies, here in the Mid-Atlantic area, for example-that competed against the smaller sole proprietor businesses, and the rise of the Internet, and those were additional pressures on those businesses that helped to accelerate the process.
And even being part of a chain, or being on the Internet, or both, isn't proof against a merchant's own ineptitude, too. We had a HobbyTown franchise here in the Lehigh Valley, for around 30 years. It replaced an LHS that closed when the owner retired. That HobbyTown thrived, but when its owner retired and sold the franchise, the new owner went out of business in about 18 months. He had no head for it, didn't promote his store the way the previous owner did. And Squadron provides an example of a business that adapted to changes over time, but eventually ended up with management that failed, and they had to close.
In the end, nothing lasts forever.