East Village lit-lover haunt St. Marks Bookshop is the latest small bookstore getting squeezed by a combination of e-book sales and rising rent costs, The Villager reports.
“We were in a precarious position and when you add what happened with the economy in general—there you go," said store manager David Russo. “We’re particularly vulnerable to that because of the price of our real estate. It’s people turning to e-readers," he said, before explaining that “E-book sellers have changed what people’s perception of service is and what is legitimate to expect in a short period of time." Russo calls the combo of e-books and a high rent (which his landlord continually tells bookstore staff he could be charging more for) "the perfect storm."
Last fall, St. Marks was forced to lay off all of its part-time staff and reduce the hours of their full-timers, though he remains guardedly optimistic: “I wouldn’t say it’s merely a little tight, but I wouldn’t say we’re planning on closing the store right now."
It's been a rough time for bookstores lately—last month, Atlantic Book Shop was forced out of business for similar reasons, and some bookstores are considering charging for readings to stay afloat. Reports show that E-book sales in the US doubled in the past year, while paper books suffered double-digit losses.
