The Open Book co-op has announced that the bookstore will soon close its doors.
I just got off the phone with Keith Schmitz, who helped to organized the venture. He said sales were going up.
"However, along with the memberships we had taken on some loans from people in order to bridge the gap between the memberships and what we needed to open and keep going," Schmitz said.
But the revenues and memberships just weren't enough to keep it going, and that organizers failed to recognize that it takes a while for a new business to gain recognition and acceptance, even a bookseller that was established on the site of the former Schwartz bookstore.
Schmitz said they'd talk to Roundy's about their lease options.
"I think the community is really going to miss it," Schmitz said.
He said there would be a listening session to be held next Wednesday at 7 p.m.
Here’s the press release:
It is with deep regret that the Board of Directors of Open Book is forced to announce that the Open Book bookstore will be closing its doors on or before April 30, 2010. We have enjoyed serving our community at our location on Oakland Ave. in Shorewood.
Open Book is very appreciative of our more than 1,000 members and their support. We engaged in this endeavor knowing it was a difficult challenge, but felt strongly that the concept and philosophy of a community bookstore and gathering place were worth the effort. We are deeply appreciative of the widespread support we have been given. We urge all of the North Shore to support their local independent bookstores and wish them success.
Unfortunately, due to a confluence of eventsthe economic downturn, a change in the public's book-buying habits and strong competition from online book sellersit has become necessary for our bookstore to cease operations.
