Business & Tech
Barnes and Noble May Close Record Number of Stores in 2016
Book sales are sagging under competition for e-books, and 442 leases are up for renewal this spring.
ROCHESTER HILLS, MI – Barnes and Noble, which has a store at 2800 S. Rochester Road, is expected to close a record number of stores this year due to declining sales and a popularity in e-books.
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It’s unclear how many of its 647 stores the nation’s largest bookseller will close, but it has been closing them at a rate of 15 to 20 a year for the last decade, according to goodereader.com.
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According to that report, 442 leases on Barnes and Noble bookstores are up for renewal on April 30. That’s more than half of the Barnes and Noble stores in the United States.
Mitchell Klipper, a former Barnes and Noble retail group CEO, said the story is “fully committed to the retail concept for the long term,” but plans to have only 450 stores by 2022.
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