Tuesday, April 19, 2011

The Remaining Joesph-Beth Bookstores to be Autioned

Joesph-Beth Booksellers is in bankruptcy and has closed four of its nine stores, but reportedly a financing plan was rejected forcing the remaining five stores to be sold at auction. This of course includes the store in Norwood near Hyde Park, which is a main stop for well know authors on book tours.

The impression I get from the article is that the auction would intend to keep the business going, but I don't see how that can be assumed. In an auction the buyer usually has pretty much no strings attached if they pay the price bid, but in this type of business auction, there may be other rules or requirements.

It will be a dark day for books if Joesph-Beth closes. There are so few book stores left and e-books are becoming so common that the future of retail book selling is not bright for small or even medium sized companies.  Book stores used to be a core pillar of American Intellectualism.  Now, Walmart sells more books than any other company.  They have a horrible selection and censor books at the drop of a hat.  Knowing what to read should not be left to the Walmarts nor to online popularity lists at Amazon.

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