For the first time in years, physical book sales are increasing. In the past quarter, the number of books sold went up by 5.6 percent compared to a year before when retailers ECI and Polare went bust, reports market research company GfK. In total, there were 8.2 million books sold in the first quarter.
Since the beginning of the economic crisis in 2008, about 22 thousand stores in the Netherlands have disappeared, mostly due to bankruptcy. According to calculations by market researcher Q&A, there are about 90 thousand stores left at the end of this year.
De Slegte, at one time one of the biggest bookshops in the Netherlands, is auctioning off its antique books. The bookshop chain was bought up by Polare in 2013 after it went bankrupt. The antique book collection was bought up by Polare and the most exceptional of them now being auctioned off.
Book sales tumbled nearly 11.5 percent in the first quarter of the year, according to business research group GfK.
The Rotterdam bookshop of the bankrupt Polare chain may survive. A group of Polare employees announced on Monday that they have managed to collect enough money to take over the shop. It will be established on the Coolsingel under its old name, Donner, the Telegraaf reports.
After receiving an extension for payment, chain bookstore Polare was officially declared bankrupt, announced the curator, Kees van de Meent Monday afternoon. The stores will remain open for now.
Polare bookstores, who received an extension of payment last week Tuesday, will be sold per store or per group of stores, announced curator Kees van de Meent of Höcker law office Tuesday. Van de Meent came to that conclusion after intensive discussions with six parties, crucial in the survival of the chain bookstore.
Bookstore Chain Polare is negotiating with two "interested parties" and is hoping to re-open its stores, according to CEO Jan van de Wouw to RTL Nieuws. Polare had to close 20 bookstores Tuesday, due to serious financial problems.
All 20 shops owned by Polare, namely Selexyz and de Slegte, will "temporarily" shut their doors following a "strategic reorganization" that will also see their online store go black.