Books Inc, the oldest bookstore in the Bay Area, has filed for Chapter 11 bankruptcy amid persisting financial difficulties.

The 174-year-old company will close its Berkeley location next month, with some staff transitioning to other stores. 

The remaining 10 locations across the East Bay, peninsula, and San Francisco – as well as the e-commerce site – will remain operational as the company reorganizes for “long-term sustainability”.

According to the company, the Chapter 11 filing responds to annual losses resulting from rising operating costs and changing consumer habits following the Covid pandemic.

CEO Andy Perham said the reorganization plan, which will seek to consolidate the number of physical retail stores, will put the company on a smaller, financially stronger platform.

“Restructuring Books Inc for long-term viability will require us to make some very difficult decisions that affect our people and business partners, and we intend to do everything we can to minimize these impacts,” he continued.

“The experience and dedication of our booksellers and management is the foundation on which we feel confident in our ability to transition Books Inc to its next successful era.”  

Earlier this month, Craft retailer Joann entered Chapter 11 for the second time to facilitate a sale of its assets.