November 19 , 2017
Appleton, Wisc.-based Book World Inc. has announced that it is closing all bookstores in its Book World chain that operates 45 outlets across the Midwest.
In a letter to its business partners and vendors as well as in a release sent to media, Book World said that liquidation sales will begin on November 2 at all 45 locations. The sales will continue until all inventory -- books, magazines, greeting cards, gifts, and other sidelines - is gone. The company expects that all stores will be closed by January 15.
In the letter to Book World's business partners, senior v-p Mark Dupont said that while the chain had been able to weather the advent of e-books, in the past 12 months sales started plummeting and still continue to drop. Dupont attributed the downturn to the national consumer shift towards e-commerce and away from large department stores. This, Dupont wrote, "has triggered the loss of vital mall anchor stores and a downward spiral in customer counts, reducing sales to a level that will no longer sustain our business."
"We didn't anticipate being in this situation," Dupont told PW, disclosing that the decision to liquidate the company was made about 10 days ago. "I thought I'd be at Book World until the day I retired."
Book World stores are located throughout the Midwest, outside of the region's most populated metropolitan areas, most of them either in small town business districts or in shopping malls. There are 20 stores in Wisconsin, eight in Illinois, seven in Michigan's Upper Peninsula, five in Minnesota, three in Iowa, and one each in Missouri and in North Dakota. Dupont said a dozen employees in Book World's corporate office will be laid off, as well as more than 300 booksellers across the 45 stores.
The first Book World store was founded in 1976 by William Streur in Rhinelander, Wisc.; Streur has always shied away from industry attention as he and his family built up the company over the years; the company declined to cooperate with a 2010 PW profile.
Du Pont, noting that Book World just opened a location in Jefferson City, Mo. said that some of the stores -- especially those in downtown areas -- are doing well, and expressed his hope that people interested in bookselling in communities about to lose their Book World outlet would open up their own bookstore, perhaps even in the same building. "Many of the stores are truly still healthy," he wrote.
"We're saddened to hear the news of a longstanding family business in our region closing and wish all of the employees best wishes with this transition," wrote Carrie Obry, the executive director of the Midwest Independent Booksellers Association. While MIBA will be losing some members, Obry noted that "the real impact will be in the communities that have to do without a bookstore until someone opens a new one."
Given the relatively small store count, we don't expect this closing to have a major impact on publishers. However, it is indicative of the point we are at in this business. While the vast majority of books are still sold in print, the majority of books are sold online, through ecommerce.
At Sunbury Press, we continue to be very supportive of our local and regional booksellers, and urge our authors to select them for events over Barnes and Noble and Books-A-Million whenever possible.
We will continue to monitor our risk of returns from the book trade, as we continue to navigate these choppy waters. Next year will be our 15th in business, and we hope to continue for many many more years.
We have had a number of questions recently about ordering books for events. Bookstores can order from us directly at a 40% discount, or can order from Ingram. We would prefer a direct order -- or that you handle the books for your events. This month, we are once again in receipt of a large number of copies returned from book events where the stores over-ordered. These boomerang books are deducted from your royalties and build up in our inventory, when you could have just picked them up and used them at your next event. If you are doing a series of author events, please work with the bookstores to prevent returns. They are expensive for all parties involved.
And, for those of you ordering books, don't forget to use the A50 coupon code when checking out. We've had to fix a number of orders this past month. Please email email@example.com if you have any questions.