Book shop closes doors (Waikato Times)

Lisa Steed has faced three years of losses as the owner of Hamilton book store Dymocks.

The toll became too much and yesterday she closed the doors, falling victim to the recession, location and a small demand for literature in the city.

Over the last two weeks she held a closing-down sale for the shop before handing it over to liquidators yesterday.Mrs Steed has put her house on the market to cover the costs of the business.

The store had opened in November 2007, and had never made a profit.

"We were growing last year but this year we were going backwards," she said.

"It is not a case of not making enough money, we weren't making any."

She had opened the store because she had thought Hamilton needed a bookstore which sold an extensive range of modern literature as well as bestsellers; "that was the niche market we were going for".

Despite gaining a core of regular customers, there had never been enough of them, Mrs Steed said.

The Bryce St location may also have played a part in the closure.

"People have asked if the location was the problem and it is a bit off the beaten track," she said. But the steady stream of customers during the closing-down sale over the last two weeks proved people were after bargains.

END OF STORY: Lisa Steed, from Hamilton's Dymocks book store, with customer Suzie Rutz. (Photo from Waikato Times)

She had been surprised the more expensive books had gone quickly at discounted rates while the usually popular children's books had taken longer to sell.

Despite having lower back-catalogue prices than some larger chains, Mrs Steed said she could not match their sale prices.

She had gained a loyal base but despite "wonderful feedback" from regulars, there were not enough of them.

Last-minute customer Dianne Bull, of Te Akau, said yesterday she had often bought childrens' books for her grandchildren from Dymocks when she came to town. "I'm particularly sad because I think we need more bookshops in Hamilton," Mrs Bull said.

Former assistant manager Minnie Hayes, said the closure was disappointing because she had loved working at Dymocks but said she was taking a job at a new Paper Plus store at The Base, where Mrs Steed will also be employed.

This article from The Waikato Times; by FELICITY WOLFE 23/07/2010