The company plans to shut down about 20 locations per year
Many neighborhoods across the US stand to lose their Barnes & Noble libraries, as the company has announced that they will be closing more stores.Of 689 stores they now own, the number is set to decrease by about a third in the next decade. The board plans to dump about 20 locations per year, LA Times writes, quoting CEO Mitchell Klipper.
"Of that number, some of the stores are unprofitable while others are relocations to better properties," spokeswoman Mary Ellen Keating explains.
Their direct competitors, Borders Group Inc., have already filed for bankruptcy and are liquidating as we speak. Keating, however, is confident that their assets will save them if things do get bad.
Do you shop at a local bookstore or go to Barnes & Noble, and would you be sorry to see them go? Write your response in the dedicated section below.