Bookstore Closes

Buying books could be more of a hassle next semester than ever before - and not simply because of exorbitant prices.

The Co-Op Bookstore shut its doors Monday without notice, posting a sign that read, "Thank you for your patronage."

The lights are off, and nobody's home: A forlorn student looks into the window of the closed Co-op bookstore. (photo by Areca Treon)

The Co-Op has been experiencing financial struggles for quite a long time, but the abrupt closure was quite unexpected. Co-Op employee Jesse Woghin said he didn't know about the shut down until he showed up for work.

"We regret to announce that we are forced to cease day-to-day operations of the bookstore and focus on maximizing the value of our remaining assets on behalf of our employees and membership," wrote the Co-Op board of directors in a press release. According to the release, negotiations for a smooth transition between the Co-Op and another party were unsuccessful.

On Thursday, Co-Op employees were called to a meeting at the bookstore. When contacted, board member Shirley Hull refused to comment.

The other party mentioned in the press release, according to Woghin, is the Cub Pac group, which was brought in to help the Co-Op through financial hardships that began several years ago. In return, the Cub Pac group took over management.

According to Woghin, there was a falling out between the Co-Op and the Cub Pac management. "Cub Pac ran us into the ground," said Woghin.

Woghin said that Cub Pac was threatening litigation against the Co-Op, but that the Co-Op board of trustees had a strong counter claim of negligence, because the Cub group did not ask for financial statements from the bookstore for six months.

"I'm very sorry that the Co-Op has not been able to stay in business," said Oberlin College President Nancy Dye on Wednesday. She explained that the College has been in regular communication with the Co-op and made assurances that textbooks would be available for Spring semester. "Right now, we are most concerned with the immediate short term," she said. Now that the issue of text-books has been dealt with, she said the administration can begin to look at the long term effects of the closure. "We are a reading community," Dye added, "and we need first and foremost a good bookstore."

Woghin said the Co-Op is currently working to get the building appraised for sale. In an interview with the Cleveland Plain Dealer, however, Board President Brian Cartier said the Co-Op was planning on being open for the Spring semester.