A book store in the Boston area may have a good reason for closing.
It’s closing for good after nearly a decade of operation.
The New York Times has more.
[Boston Globe via Boston.com]The Boston Globe has more:The New York City Booksellers Association confirmed Thursday that it had asked the New York State Department of Financial Services for a $7 million loan to help stabilize the struggling bookstore.
The lender has agreed to help pay for the closure, and it’s expected to be complete by the end of June, the Times reports.
The New Jersey-based Bookseller’s National Association has been working with the state to close the New England bookstore.
That group, which includes many of the region’s booksellers, has been in discussions with the B.S.F.S., which oversees book-sellers and has been pushing to shut down the New Hampshire-based business, which has existed for nearly a century.
B.S.”s website lists the New Bedford store as one of its four remaining bookstores in New England.
Its website lists its closure as being expected to take place “as soon as the BSFS has been given an opportunity to evaluate the business’ financial position and determine whether it is feasible to continue operating as a New Bedford bookseller.”
B.s.F.”s spokesman, Michael Schulze, said in an email that it was “working with the New New York Booksellors Association to determine how to best proceed.”
The B.s, in a statement to the Times, said that the closure was “unanticipated and unfortunate,” but said it was working to “restructure our business to enable the business to continue to function as a viable bookstore for its members.”
It added that the Bs is also “working closely with the State to help them resolve the financial difficulties they are experiencing.”
The state has said that it will “continue to review its options and make decisions as necessary,” and that “the closure of the New B.sf.s will not impact any other New Bedford stores.”
The B. s.f.s., which has been struggling financially, is one of the biggest brick-and-mortar bookstores left in the region.
In recent years, it has closed dozens of locations.
In July, the Bsf.
s., which is headquartered in New York, announced that it would shutter all of its stores in Massachusetts.