THE BRONX - Shipman Stationery Supplies, founded in 1886, is liquidating all of its merchandise and closing shop.

The 124-year-old store, located at 2336 Grand Concourse, says it could not survive the economic downturn. While sales have remained steady, increased rent and overhead is causing the business to shut down.

It carries stationery as well as school, office, art and teacher supplies. All products are now being marked at 50 to 75 percent off.