Campus Book & Supply, Mike’s Bookstore and Ned’s Bookstore are in danger of closing after the Chapter 11 bankruptcy filing of their parent company, Nebraska Book Co.
According to AnnArbor.com, a U.S. Bankruptcy Court judge granted Nebraska Book Co. until April 30 to decide on maintaining or rejecting leases for about 40 stores in the U.S. Campus Book & Supply, Mike’s Bookstore and Ned’s Bookstore are among the 40 stores being decided on.
The company filed for bankruptcy protection in June and reported that it would continue to monitor its stores to determine which to maintain AnnArbor.com reported.
Off-campus bookstores often find themselves competing with on-campus stores.
Therefore, the Ypsilanti bookstores operating under Nebraska Book Co. not only have to compete with each other, but with the Eastern Michigan University Student Center Bookstore on campus.
If the Ypsilanti bookstores were to close, it could become an issue for students, particularly those of EMU looking to buy textbooks.
“I don’t think it’d have a big impact because people can still get their books online at Amazon and places like that,” said EMU bookstore employee, Michelle Vince.
Amazon.com and the increased demand for e-textbooks are other challenges college bookstores are facing. Barnes & Noble released figures predicting their new Nook tablet and Nook reader line to account for $2 billion in sales in 2012. The company also estimated print book sales would drop significantly.
“A lot of people want the electronic version of textbooks, it just depends on the particular book,” Vince said.
Students also have the option of obtaining books from online sites that often offer the same textbooks for cheaper, and many choose this route.
“Bookstores are overpriced. Students are looking for the best bargain because college is expensive,” said EMU freshman, Brian Venable. “Many people will get their books cheaper on Amazon or order them electronically.”
Students sometimes exchange books with other students in order to purchase texts for even lower prices than are offered online.
EMU student Dylan Burrows said, “I get my books from friends by selling them my old textbooks and buying their old ones. I can make more money than the bookstore would give me for my old books and sell the books to my friends for cheaper than the bookstore will offer.”
The shape of the country’s economy is another factor negatively affecting bookstores. College costs are extremely high, and students are left looking for ways to save money any way they can.
College bookstores are forced to adjust their business so they can compete with lower prices offered by competitors and technological advancements threatening to take place of the traditional textbook.
