Olsson’s Braces For Chapter 11 Filing – The Post
Olsson’s the venerable local independent bookstore chain is on the verge of bankruptcy.
“The book business is getting a little soft. It’s not selling as much as it used to,” Olsson said. “Our music sales went from 50 percent of our business to maybe 15. We lost a lot of revenue, and at the same time rents went up and real estate taxes went up. I don’t know what we would have done differently. It’s a killer.”
Olsson’s used to have nine locations, but they are down to five.
I went to a number of booksignings at Olsson’s over the years, so seeing them in trouble is unfortunate. I hope they can get through it, but at this point I would be surprised.