Central Indiana Businesses Announce Permanent Closures

Several Indianapolis-area shops and restaurants, including Global Gifts, Sakura and Karma Records, are shutting their doors.

Updated on Nov. 3, 2026 in Openings & Closings

Photograph of a row of red brick commercial buildings with one ground-floor storefront closed behind a gray metal gate under flat overcast daylight. — Global Gifts, Sakura and Karma Records are among several central Indiana businesses announcing permanent closures, with tariffs and lease disputes cited as factors. AI Illustration. Upload story photo >

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Multiple central Indiana small businesses and restaurants have announced permanent closures. Global Gifts closed its Massachusetts Avenue store, Sakura will close after November 12, and Karma Records will close its North High School Road location within the next week.

Why it matters

The closures affect longtime local businesses across Indianapolis and surrounding communities. Economists have said the closures do not signal a recession.

Karma Records has had a west side Indianapolis presence since the mid-1980s, and reconstruction after a fire several years ago took over a year. Sakura's final day open is November 12, and the source does not report revenue or store-count figures for the closing businesses.

The players

Global Gifts

A nonprofit retail store that sells items from around the world.

Karma Records

An Indianapolis record store with a west side presence dating to the mid-1980s.

The details

Global Gifts, a nonprofit retail store on Massachusetts Avenue, officially closed, and its Nora location will close at the end of the year. Global Gifts' board member cited tariffs as having greatly affected the store, while Sakura was unable to reach a lease renewal agreement, according to its social media post.

Several years ago: a fire damaged the Karma Records building, and reconstruction took over a year.
Mid-1980s: Karma Records established its presence on the Indianapolis west side.
Last week: Global Gifts' Massachusetts Avenue store officially closed.
Sunday: Bub's Burgers in Zionsville and Social Cantina in Broad Ripple closed.
November 12: Sakura's final day open.

Market Landscape

Global Gifts' board member attributed the store's difficulties to tariffs, a cost pressure that small importing retailers have faced under recent federal tariff increases. The closures add to a broader pattern of independent Indiana businesses confronting rising costs and lease pressures.

Shoppers who relied on Global Gifts, Karma Records or Sakura will need to find other sources for those goods and dishes. Customers with gift cards or pending orders at the closing businesses should contact the businesses directly to confirm how balances will be handled.

The takeaway

Independent shops and restaurants in Indiana face tariffs and lease pressures that can end a business quickly, even as economists say these closures alone do not point to a recession. Supporting local businesses before closures are announced helps keep them open.