Unfortunate news from the Bodhi Tree Bookstore, West Hollywood, Calif.: the sale by longtime owners Stan Madson and Phil Thompson to Karuana Gatimu and Lori Cutler (Shelf Awareness, September 21, 2011) has fallen through because the offer was "rescinded," the store said.
"We had invested a great deal of hope and optimism in the offer agreement that, after many months of planning and negotiation, has come to naught," the owners wrote. "As a consequence, we have re-contacted interested parties in the business to explore opening a new dialogue. We will make every effort to keep the Bodhi Tree going in the community. If you know of anyone who has an interest and seems qualified to assume and continue the business, please contact us. Time is critical but we remain hopeful."
Madson and Thompson have already sold the building in which the Bodhi Tree located. A new owner will need to move the store.