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TL;DR: The rent is too damn high. > But the biggest culprit, at least in New York, is the same seemingly unstoppable force shuttering small businesses across t
by smacktoward 8y ago
TL;DR: The rent is too damn high.
> But the biggest culprit, at least in New York, is the same seemingly unstoppable force shuttering small businesses across the city: rising rent. Rent is a particular concern for bookstores because they operate on low margins but require large storage space.
Bookstores “have weathered many economic challenges over the decades, but there is nothing they can do when the landlord triples or quadruples the rent, or simply refuses to renew the lease”, Jeremiah Moss, author of Vanishing New York: How a Great City Lost Its Soul, tells me.