Roberta Rubin, owner of the Book Stall in Winnetka, Ill., is selling store to Winnetka resident Stephanie Hochschild, effective June 1.
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In March of last year, Rubin decided that it was a "good moment" to retire--in part because she won PW's Bookstore of the Year Award--and began receiving inquiries over the next two months. By the fall of 2012, five different people were looking to purchase the store. The number reduced itself to three in December, and in January Rubin received bids. Last week, she signed the letter of intent with Hochschild.
"I was looking for somebody who wanted to see the store stay as it is--a part of the community," Rubin explained. "I wanted to have someone hands on, someone who loves the store, loves the town and really feels the community's impact." Rubin has owned the store since 1982.
Although Hochschild has no previous experience in the book industry, she did work at the Book Stall for three months to get acquainted with staff and store. The Book Stall's staff responded to Hochschild very well, Rubin said, and she also attended Winter Institute 8 in Kansas City, Mo., as a guest of ABA CEO Oren Teicher. Rubin plans to work three-quarters time for the first three or four months after the transition, in order to help make sure everything goes smoothly.
When asked about her plans once Hochschild is completely settled in, she said, "I don't want to make any plans at this point. I want to write, to be closer to my grandchildren. I want an open slate." --Alex Mutter