It is mentioned in some of Galdós' Episodios Nacionales and it is probably the third oldest shop in Madrid. It used to be a large retail store that sold all different kinds of goods; wicker chairs, sticks, shoes and boots, espadrilles, raffia, gunpowder, fireworks, toys, pens ready to be sold by five or six clerks.
Nemesio Palencia and his descendants have been the owners of the establishment. Mercedes is the one who runs the shop and copes with the present situation. Its perfume and household goods satisfy the customer’s needs nowadays. A red old botijo remains from that time and it welcomes everyone.