South Street’s Frost & Cone, a fixture of the community since 1921, will serve its last scoop on Saturday. The announcement came with little warning, catching long-time patrons off guard. Family photographs lining the walls of the cream-and-blue parlor now serve as silent witnesses to the milestone they never expected.
Margaret Holloway, the third-generation owner, confirmed the closure in an interview Tuesday. "We fought to keep it going, but the numbers don’t lie," she said. "Rents on South Street have tripled in five years. My own kids are in college now—they don’t want to run a shop that’s bleeding money every month."
Key Points
- ✅ Frost & Cone has operated continuously since 1921
- ⚡ South Street rents have tripled since 2019
- 💡 Third-generation owner cites financial strain and family change
The shutdown affects 12 full-time and part-time staff, several of whom have worked there for decades. Holloway confirmed that severance packages are being finalized but details remain confidential. The shop’s signature waffle cone machine, installed in 1987, will be donated to a local culinary school.
| Aspect | 2019 figures | 2024 figures |
|---|---|---|
| Monthly rent | £1,800 | £5,400 |
| Daily customers | 120 | 60 |
| Staff turnover | 5% | 22% |
Neighboring businesses expressed shock. "We all knew things were tough, but we never thought they’d close," said Javier Morales, owner of the nearby bookstore. "Frost & Cone was the heartbeat of this block. Without it, it just won’t feel the same."
💡 Pro Tip
Local shoppers looking to preserve a memory can still purchase gift cards through Thursday. Any unused balances will be refunded after closure.
The final day will feature a 50% discount on all items, starting at 11 a.m., until supplies last. Holloway confirmed that the freezer will be emptied and cleaned by Sunday afternoon. The storefront windows, adorned with decades of handwritten customer notes and photos, will be boarded up by Monday.
📋 By The Numbers
- 12 — Number of staff facing layoffs
- 1,942 — Number of days the shop remained open without pause
- £150,000 — Estimated revenue loss in 2023 due to reduced foot traffic
City council member Priya Desai confirmed that no heritage protection order was in place for the interior or exterior of Frost & Cone. "While it’s a loss for the community, the building’s future is not restricted by preservation rules," she said. "We’re exploring options to support displaced workers and maintain the street’s small-business ecosystem."
- First — Staff have been notified and severance discussions are underway
- Second — The waffle cone machine will be donated to South London College’s hospitality program
- Third — Holloway will retain ownership of the recipe books and branding rights
The closure leaves South Street with one fewer independent retailer, mirroring a broader trend across London. Data from the Greater London Authority shows that independent shops in the capital have declined by 14% since 2020. Holloway plans to use remaining funds to launch a small online dessert business, though she admits it won’t be the same. "There’s nothing like the sound of a bell ringing when you walk in," she said. "No app can replace that."
