Barnes & Noble is closing the chapter on its four-story superstore at Lincoln Center. The 66th Street store will close at the end of January after more than 15 years of selling books and holding readings and performances.
The company blamed a rent increase that "makes it economically impossible for us to extend the lease." A spokeswoman for the company said it would try to reassign as many employees as possible to nearby stores.
The New York-based bookseller recently put itself up for sale after profits have fallen due to competition from discount booksellers like Costco and Walmart and an increase in sales of e-books. The company has also been waging an expensive fight against an investor trying to increase his ownership of the company.
It's the not the first time the corner has seen vacant storefronts. Both Tower Records and Circuit City had stores across the street from the bookseller and later closed them after the companies filed for bankruptcy.