Dec. 10, 1998, Palo Alto Daily News, Palo Alto, California
Last chapter for book store
Landlord says Printers Inc. will close Palo Alto book store
Printers Inc. Bookstore, a Palo Alto landmark, will close its California Avenue store after Christmas, the store's landlord told the Daily News yesterday.
Rick Stultz, who owns the building at the corner of California Avenue and Birch Street, said he was told by the store's owners they would be closing up shop after Christmas.
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Stultz said he was told by the store's owners that they can't afford the rent in the face of competition from national chain stores and online retailers, such as Amazon.com.
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Gerry Masteller, another bookstore co-owner, wouldn't discuss the store's fate until after the Christmas shopping season.
"There's stuff going on. We'll be making an announcement. I'd like to complete the Christmas season and have it happen that way." Masteller said. "To make the announcement right now is disruptive."
'Sensitive Issue'
Stultz, the landlord, said he understood it would be difficult for the owners to talk about the closing before Christmas.
"It's a sensitive issue for them," said Stultz. "I offered them a rent substantially less than the market rate and even that wasn't enough to resolve the issues of the independent booksellers."
Independent bookstores nationwide are having trouble staying open because of competition from chains such as Border's and Barnes and Noble.
"We face severe competition with big-box retailers. They get illegal deals with publishers. All that adds up to an uphill battle for independents." said Clark Kepler, owner of Kepler's Books in Menlo Park.
Kepler and other independent book sellers are party in a lawsuit accusing large chains of illegal practices by allegedly cutting sweetheart deals with publishers.
Although Printers Inc. and Keplers are competitors, the two independents have worked together promoting author events - such as Tom Wolfe's Sunday appearance at Stanford.
"It would be a tremendous loss...." said Ronna Devincenze, head of the California Avenue Development Association.
Below market rent
Landlord Stultz said he's sorry to see Printers Inc. close.
"It's too bad it's not anything they can do anything about," Stultz said. "It's really a matter of Borders, Barnes and Noble and Amazon.com and all that competition."
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Stultz said he doesn't have any tenants lined up for the Printers Inc. space and nobody has made any offers.
"I'm open to various possibilities," said Stultz. I'd like someone who adds something to the street, like Printers Inc. did." |
