Barnes & Noble has closed the book on another NYC location. The bookstore at 105 Fifth Avenue at 18th St. was the chain’s main college bookstore, serving students at nearby NYU and Baruch, and other local universities and colleges, plus business trade books and other publications.
The bookstore closed without warning earlier this week, and according to Crain’s New York Business, its 56 employees are being laid off.
Shoppers are being directed to the flagship Barnes & Noble store a few blocks away, on 18th St. and Union Square North, or to the chain’s website, bn.com, which will continue to sell college textbooks and trade publications.
Barnes & Noble has been closing stores throughout NYC and the Tri-State area as it regroups to reflect how we buy books these days, much of it onlone or downloaded as e-books. I miss the huge four-floor Barnes & Noble at Lincoln Center, which had the largest travel guidebook section in the city. That location is now a Century 21.
According to Crain’s, for the six-month period ending Oct. 26, Barnes & Noble suffered a net loss of $74 million, roughly double the year-earlier figure. Revenues dropped more than 8% to $3.06 billion for the period.