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| Books Inc. is closing its Castro store. | |
Books Inc. in San Francisco's Castro district will close in mid-June, the Chronicle reported, citing a statement from the bookseller that the 2275 Market St. location has lost its lease. The company said it does not plan any layoffs and the store's employees will be given the opportunity to work at one of the bookseller's other shops. Books Inc. operates 11 bookstores in the Bay Area, with a 12th scheduled to open in Santa Clara in July.
"We have served customers and authors in the Castro for over 20 years and thank everyone for the support," said president and CEO Michael Tucker. "Closing Books Inc. in the Castro does not reflect on the overall health of Books Inc. or the book industry."
"It’s tough for me emotionally because this was the first store we opened," Tucker told the Chronicle, "But we couldn’t absorb any more costs." He added that the store has been in the red for eight of the past 10 years, which prompted the decision not to sign another five-year lease with its property manager. "We would stay if the sales were there."