Famous New York Strand Bookstore Says Funds Are Depleted – Deadline
The Strand, the 93-year-old independent bookstore in New York City, so familiar as an East Village literary signifier that it has long been a benchmark for filmmakers and spotters, is in danger of closure, has declared its owner.
The three-story store and its “18 miles” of new and used books have appeared in movies and TV shows such as Remember me, Les Romanoff, Absolutely Fabulous, Sex and the City, Six Degrees of Separation, Julie & Julia, Flesh and Bone, Master of None, the 2011 Arthur remake and doc 2020 Booksellers, but has seen a devastating drop in income since the start of the COVID-19 shutdown.
“Our revenues have fallen almost 70% from last year, and the loans and cash reserves that have kept us afloat in recent months are depleted,” said Nancy Bass Wyden, the third generation owner of the Strand, in an Instagram and Twitter post. posted Friday. Founder Benjamin Bass’s granddaughter released the post to encourage customer support as a last-ditch effort to keep the doors open.
Bass writes that “while the loan granted to us and our cash reserves have enabled us to weather the last eight months of losses, we are now at a crossroads where our business is not viable.” She attributes the commercial crisis to “the huge drop in foot traffic, an almost complete loss of tourism and the lack of in-store events.”
Bass is asking for public support through online and in-store shopping, and by sharing the hashtag #savethestrand. The next few months, she says, will determine the survival of the bookstore.
Earlier this week, Book Soup of LA and its parent store, Vroman’s in Pasadena, posted a similar call for help message on Instagram, calling the past few months “the toughest in our 126-year history.” business “.
“The fight continues,” writes Book Soup. “It won’t stop when 2020 ends …”
We need your help. It’s the post we hoped we’d never write, but today marks a huge turning point in The Strand’s history. Our revenues have fallen almost 70% from last year, and the loans and cash reserves that have kept us afloat in recent months are depleted. pic.twitter.com/mI074pigZu
– Strand Bookstore (@strandbookstore) 23 october 2020