Duthie Books in 2002Christopher Grabowski
Duthie Books 4th Avenue will close at the end of February, the final chapter for a family business that has operated for more than five decades in Vancouver.
The 4th Avenue store was the sole Duthie's outlet to remain in operation after the bookseller filed for bankruptcy in 1999, the victim of fierce competition and an unsuccessful expansion strategy. The company was founded in 1957 by Bill Duthie, and in its heyday had 10 stores, including a flagship downtown outlet.
The strengthening Canadian dollar ate into the booksellers' already slim profit margins over the past two years, said manager Cathy Legate, one of three siblings involved in the business.
"Most of the year for a bookseller, you're a little bit in the red," Ms. Legate said yesterday, adding that seasonal sales did not generate enough revenue to push the business into the black for the year.
Along with competition from big-box retailers, demographic and technological trends are also hurting the business, Ms. Legate said. Duthie's was also facing a rent increase for its Kitsilano premises, where monthly rent had climbed to $16,000 from $13,000 over the past couple of years. The store's last annual sale begins Jan. 28.
Dozens of independent Canadian booksellers have gone bankrupt or out of business over the past decade, including Winnipeg-based McNally-Robinson Booksellers Ltd., which filed for bankruptcy last month.