Yikes…Wordsmiths looks to be under serious threat of closing.
How serious?
Read the store’s press release below and then head over to Wordsmiths blog to read it all firsthand from owner Zach Steele. But the gist of it is that the store’s old, expensive location on Trinity coupled with a recent big, unsuccessful event forced them to take on a lot of debt they can’t get out from under. As a last resort, Zach and crew have reluctantly launched a campaign to “save the bookstore”.
Wordsmiths Books launches urgent “Save Our Bookstore” Campaign
Wordsmiths Books, in Decatur, GA, home of such literary and musical powerhouse events as Amy Sedaris, Christopher Moore, Ani Difranco and Final Fantasy, today launched a campaign to rally attention and funds deemed “vitally necessary’ to save the bookstore that has become a community center of sorts for the literary arts in the city. In a post on Wordsmiths’ always-highly-active blog, citing the store’s previous off-the-beaten-path location’s momentous rent requirements and a recent big-name author event requiring a massive up-front investment that didn’t pan out as catalysts for the store’s current financial peril, store owner Zachary Steele writes “We need your help to save our bookstore. Beginning today, August 4th, and leading through a weekend fundraising event August 15th-August 17th, I am opening myself to your assistance. It doesn’t matter how small your contribution is-with enough help it will all add up in the end. If you want to offer $25, $50, $100, $200, anything at all, it can help.”
“At our new location, business has been steady, walk-in traffic consistent, sales are up and costs are down”, Steele continues. “Everything you want out of a business and everything it needs to be as long it’s not carting a debt that continually drains its resources. Given the opportunity to grow in our new location, given the opportunity to balance things out, we will thrive and continue to provide the entertainment and service that you have all come to appreciate. But we can’t get there without help. Your help in specific.” Wordsmiths Books Marketing Director Russ Marshalek is said to be in the process of crafting a three-day benefit weekend August 15-17, and is “encouraging any with suggestions or a willingness to participate to email him at “. However. Steele stresses “if you wish to help, if you can help, I ask you do so immediately rather than waiting for the 15th to roll around.”
Potential donors of any amount are encouraged to either donate online by using the ‘Donate Now” button at wordsmithsbooks.com, call the store at 404-378-7166 or simply stop in to the location at 545 N McDonough St, Decatur, GA 30030.
Wow…that would be a big blow to the city. If you love Wordsmiths and all it contributes to our community, now is the time to put your money where your mouth is.
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When is the benefit for Nease’s? When was the benefit for Square Roots? I must have missed the Rue de Leon and Houseworks benefits, too. If I had only known that Tossed was in trouble, I would have left a double sawbuck under the door whenever I walked by. Perhaps we should just establish a “Struggling Decatur Retail Business Relief Fund” and donate to that instead of to our churches, our schools, Habitat for Humanity, the Red Cross, the Heart Association, the Humane Society, the American Cancer Society, the Cystic Fibrosis Foundation, CARE…
It’s a valid question FM and one I struggled with a bit before posting.
But everyone of those joints could have asked the same favor from the community. They just didn’t. The difference? Wordsmiths has a dedicated PR person.
I just hope it doesn’t fall under the “aggressive panhandling” definition that was on the City Council agenda tonight.
Why doesn’t Wordsmiths do what larger businesses do when they need capital - offer shares. They could offer redeemable preferred shares or class B shares (if they are a C corp) or limited partnership interests (if they are a partnership). (I don’t really know about S corps or LLCs)
That way people giving money will get it back plus some sort of premium if Wordsmiths does well. An attorney could probably be found to provide the necessary legal work for free/a small # of shares/etc if on-line guidance was not enough.
Have to agree. It sounds like they made some truly awful business decisions here, paying top dollar to lease a bad location and then, if the debt load from the old lease was so crushing, maybe shelling out a ton of money for a recent promotion was a very bad idea. Why should we assume they’ll spend additional money any more wisely? The other major problem is they’ve disclosed nothing about how much they need and by what time they have to receive it. Is there a realistic chance they’ll get what they need? If not, the donations they do receive will be a waste.
I have to agree with the commenters above. I do believe that Wordsmith’s has tried to be a good citizen and provides a lot of good programming for Decatur. However, they are a private business and if they cannot get a bank to give them the capital they need to stay in business or money from investors, grants, etc., then I’m not sure it is up to the public to donate money to them in order to stay open. There are plenty of other struggling businesses out there as well.
Agree with all above. Would be interested in the shares scenario, however.
I’m not trying to be mean here but I have to ask : How is a place in such dire straights able to employ a dedicated PR person and a web master? That does not exactly sound like a small neighborhood bookstore or a a wise choice when you are tht close to the bottom line.
While I think it is a shame, and great that Decatur has a bookstore……I have to ask like the above posters, why should the citizens of Decatur bail them out for their poor business decisions? It’s called ’survival of the fittest’. They moved to a bigger and supposedly better spot, but lost my business when they lost their own free parking lot.
Hey Stacy…from what I’ve gathered their dedicated PR person does much more than just PR and update the website. He’s also another store employee that does a little bit of everything (taking inventory, organizing events)…its not like he’s sitting around waiting for something to do.
Also, don’t underestimate the value of PR. Many times its free (like when you can get something posted on a blog) and I think Wordsmiths does a better job than most in utilizing available resources.
The bigger they are in Decatur, the harder they fall.
Just to answer a few of the posts here:
1. I don’t necessarily presume to be above any other business, nor am I any different in regard to my ability to make bad decisions and have to deal with the consequences therein. I just need help and wanted to ask for it.
2. I’ll gladly talk about the amount that I need, but felt that issuing a statement that included the amount required would dissuade people from offering. I solicited a lot of advice from many people who have dealt with this type of campaign before.
3. I am always open to investment and have had multiple discussions with individuals who are interested in it. As an S-corp I can sell shares at my discretion.
4. For the record, my PR person works all over the store and also books the great events we do that help drive revenue. My webmaster works remotely, about 10 hours a week and at a discounted rate. I make every effort to keep all expenses in line.
5. Parking: Yeah, that will always be an issue. We’re working with local business on a valet service, but parking is still parking. I feel your pain. I have to park too.
6. Essentially, I have shot my pride in the leg to do this, but I can’t in very good conscience just do nothing and let it go. I have offered to those who donate some form of compensation on the backside when we are upright again. I understand that not everybody will care, nor will everybody want to rally to our cause. And I appreciate that. That’s our right as human beings.
I don’t know what else to say folks. You can email me at if you want to gripe, complain, throw rabid dogs at me or simply open a dialogue. I have never wanted any more than to have a business that enhances this community. Financials aside, I feel I have and could continue to accomplish that.
–Zachary Steele
Owner, Wordsmiths Books
If I hear someone else complain about parking on this blog I might scream. There is plenty of parking around the Square (meters on street, free parking at the courthouse and city hall, etc) and I have never, ever had to walk more than a block or two to get somewhere. But we live in a city and you’re not always going to be able to park right in front of where you are going. That is what the SUBURBS ARE FOR. You might have to walk a block or two. Try it out. It might be good exercise.
Zach, thanks for taking the time to respond. This has got to be a really tough time for you guys, and I appreciate your candor. Let me know if you settle on any other specifics going forward…I would be happy to post.
All the best going forward.
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