Bay Area bookstore chain Books Inc. has filed for voluntary Chapter 11 reorganization. According to a release, Chapter 11 will allow Books Inc. to continue operating “while it establishes a sustainably solid financial footing in response to annual revenue losses resulting from steadily rising operating costs and dramatically changing consumer buying habits exacerbated by the COVID pandemic.” The Berkley location will close on February 9, with some of its staff transferring to other stores. The 10 other stores will continue operating during the court proceedings, though in the court filing, the company proposed closing other underperforming locations if they can’t negotiate […]
