With sales still below pre-pandemic levels, Powell’s Books secured a $4.5 million loan from Pacific West Bank, the Portland Business Journal reports. The loan is backed by the store’s warehouse, which held a sale last week that drew thousands of shoppers, and the borrowers are listed as Powell Family Real Estate Co. LLC and Powell’s Books Inc. “The loan was secured to infuse cash into the business,” store owner Emily Powell said. “It’s a reflection of our commitment to the business and our dedication to our customers.” The store is revamping its website and e-commerce platform, slated to go live […]
