In a post over on the Wordsmiths blog, Zach announces the success of their fund-raising campaign, which will help keep the bookstore open through the fall.

In a rather measured celebratory statement to his readers, Zach writes…

There is still much for us yet to do.  We have operating expenses caught up and have made some traction into tomorrow, but we will still be working on paying down our debts for the foreseeable future.  I would be remiss to state that all is well and that we are completely in the clear, though we are at least now in a position to address our concerns.  I am still working to secure the long-term future of the bookstore and will be open to investment of any level up to that of a partnership in the business.  I would like to have investment in the business secured sometime in the coming 90 days, so if you are interested, please email me or call the store to discuss the prospect.

Since there is no mention about hitting 100% of the funds needed, we’ll have to assume they didn’t quite make up the 40% needed over the two-day fundraiser.

And while some may question the action of a for-profit business asking for donations, you have to be impressed by the response they’ve received.  Early on, someone questioned the focus Wordsmiths placed on PR…well, when push came to shove, the huge network they had created after only a year in operation saved them from some bad decisions and ultimately closing…for now.

But now the pressure is on.  Over the next few months we’ll just have to wait and see how things play out.

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 russ@wordsmithsbooks.com“. 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.