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“There are a lot of reasons for this, but it boils down to a lack of revenue from in-store sales,” Murphy said in a letter on the store’s website. “I believed (and I still believe) that we could grow into it and that the business model of offering inexpensive books to our community with trade credit for books people bring in works…But we only need about a third of the space to make it work.”
Murphy said he plans to have retail space again, but a smaller format. In the meantime, the store’s subscription service will continue, and Murphy’s will still be contacting customers through email and blog posts.
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“The absolute worst part of all of this to me, is having to eventually let go of my staff,” Murphy said. “They are truly the backbone of this place.”
Murphy’s will start its going out of business sales soon. Shoppers with store credit can still use it, or they can give it back to Murphy’s to be distributed to local teachers, according to the website. The store is also still buying textbooks.
“I wanted the kids that come to StoryTime every week to get to grow up and bring their kids to StoryTime. I wanted my daughter to grow up to work here on the weekends to save up for a car,” Murphy said. “I wanted to be able to walk in here every day for the rest of my life and see what you all help me build.”
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