Melbourne retail institution Tafts to close down

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Another Melbourne retail institution is closing its doors.

Neil Mitchell this morning revealed Tafts — The Pen People is shutting down after more than a century in the business.

The store, based in Centreway Arcade (pictured below) at 259 Collins Street, will have its last day of trading mid-August.

Tafts opened in 1906, specialising in high-end pens, some costing well in excess of $1000.