I gather even the Australian Tax Office has predicted the closure of many bookshops over the next financial year. Certainly retail analysts would not hold out any hope for existing bookshops to remain profitable.
Angus and Robertson Chain Stores
All Angus and Robertson bookshops owned by REDGroup Retail under administration are expected to close in the next month.
ADMINISTRATORS for the troubled book retailers Borders and Angus & Robertson have warned both chains may close if buyers can't be found.
No new stock is being accepted at any A&R company stores and "If we are unable to find a suitable buyer, the Angus & Robertson and Borders stores will be closed," said the administrator, John Melluish.
"Finding a buyer within a couple of months may be difficult with the overall retail industry stagnant as consumers hold off spending or increase their online shopping. The book trade has been among the most affected by the rise of internet shopping, with comparable products often found more cheaply on overseas websites". Read more
Angus and Robertson Franchised Stores
Since Head Office staff at REDGroup are also being laid off, the Chain Buying channel will cease and local franchises of A&R will be unable to complete with Dymocks monthly special prices on new stock.
Franchisees (will) exercise their right to terminate as a result of Angus & Robertson's "continued breach of the franchise agreement"..."This includes Angus & Robertson's failure to provide the services and benefits it is obliged to provide pursuant to the franchise agreement," she said, commenting as spokeswoman for the independents. Read more:
It would make some sense for the breakaway group of 25 Angus & Robertson franchised stores to consider joining the Dymocks chain instead, but franchise fees for that change will be costly, and finance difficult to find, since bookselling has become such a precarious business.
- Some of these stores may continue to operate under another name.
- Stores operating inside shopping centres with high overheads would be most likely to close down.
Dymocks Store Closures
- At least one high-street Dymocks store is to close soon because the lease on the premises could not be renewed.
- Any Dymocks stores in expensive shopping centre sites could also be at risk of closure.
The reasons for store closure are many but include
- The downturn in Australian retail spending and the flow on effect to store income and profitability
- Drying up of in-store special orders as consumers order for themselves on the internet instead
- ebook sales lowering the turnover of printed books
- travellers unwilling to purchase heavy books due to weight considerations
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