Appleton, WI-based bookstore chain Book World, Inc. has run a notice in the local paper announcing that they will start liquidating their inventory as of November 2, after which they expect that all of their stores will close: “A liquidation sale will begin at each Book World store location which will run until all inventory is sold. The liquidation sale will offer customers deep discounts on books, toys, games, puzzles, magazines, calendars, trading cards, gifts, and all other merchandise. Customers are encouraged to shop immediately to take advantage of the sale while inventory is still available.”
Book World operates 20 stores in Wisconsin, and comprises 45 stores across seven states in the Midwest. Liquidation company Yellen Partners has been retained to help in the process, and Book World svp Mark Dupont expects the process to be complete and all store to close in January, “unless some interested party comes forward wanting to buy certain aspects of the business. Dupont said, “We thought this was the best time to do it so that it runs through the holiday shopping season, which is our busiest season, to liquidate as much inventory as possible.”
He expects 325 employees will lose their jobs when the liquidation is complete, including 12 in the corporate office. The notice indicates, “The national shift in the retail marketplace towards e-commerce has triggered the loss of vital mall anchor stores and a downward spiral in customer counts at Book World stores, reducing sales to a level that will no longer sustain business operations.” Book World was founded in 1976.