From Publishers Weekly:
Bookstore sales tumbled 30.7% in August compared to one year ago, according to preliminary estimates released by the U.S. Census Bureau. Sales fell to $754 million compared to $1.09 billion in August 2019.
The steep August drop put an end to a brief rally during which the rate of decline in bookstore sales had been slowing. In July, bookstore sales fell 24.6% compared to July 2019, an improvement over the 35% decline in June compared to August 2019.
. . . .
Bookstore sales through the first eight months of 2020 were down 31.4% from the comparable period in 2019. Sales were just under $4 billion in the most recent period, down from $5.72 billion in the January-August period in 2019. Sales for all of retail fell 1.7%.
Link to the rest at Publishers Weekly
PG did some quick research and, at least in the US, the average profit margin of a bookstore was 2-3% prior to Covid.
PG doesn’t like to see any small business go through difficult financial times, but he expects the financial future of a great many small bookstores is bleak unless the owner has access to assets or cash from sources outside of the bookstore business.
Even smaller banks that cater to local small business borrowers might not be willing to provide much help.