15 Oct '11, 11am

Page One next bookstore to close in S'pore? #Singapore

Page One next bookstore to close in S'pore? #Singapore

After Borders closed its two stores in Singapore recently, home-grown bookshop Page One could be next. PageOne may shut down its VivoCity branch in March next year because of losses even as it has scheduled to open two stores in Beijing in the coming months, reported The Straits Times . "The store has been making a loss of between $600,000 and $800,000 a year since it opened in 2006, but I want to continue as long as I can stomach the loss," said Page One chief executive Mark Tan. The VivoCity lease has been extended from next month to March as the store's management negotiates for a lower rent. Brick-and-mortar bookshops have struggled to stay afloat in recent times amid competition from online retailers and changes in consumer habits. In Singapore, at least six bookstores have closed since 2009, including the flagship outlet of The Commercial Press, the city-state's olde...

Full article: http://sg.news.yahoo.com/could-page-one-be-next-bookstore...

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