From The Guardian:
The Strand Bookstore, a landmark of literary New York, is in serious trouble, appealing for customers to help it stave off closure amid the coronavirus pandemic.
“We’ve survived just about everything for 93 years,” proprietor Nancy Bass-Wyden said in a statement, of the store her grandfather founded in 1927. “The Great Depression, two world wars, big box bookstores, ebooks and online behemoths. We are the last of the 48 bookstores still standing from 4th Avenue’s famous Book Row.
“Because of the impact of Covid-19, we cannot survive the huge decline in foot traffic, a near-complete loss of tourism and zero in-store events.”
Bass-Wyden said revenue was down nearly 70% from 2019. Though a government loan and cash reserves saw the store through the first eight months of the pandemic, she said, “we are now at a turning point where our business is unsustainable”.
Earlier this year, thanks to disclosures necessitated by her marriage to Ron Wyden, a Democratic senator from Oregon, Bass-Wyden was revealed to have spent between $115,000 and $250,000 on purchasing stock in Amazon, the “online behemoth” that has done most to damage independent bookstores.
Bass-Wyden said she made the purchase to support the Strand.
“It was necessary for me to diversify my personal portfolio and invest in stocks that are performing,” she said then. “I have to make sure that I have the resources to keep the Strand going.
Link to the rest at The Guardian