Citing "a significant rental increase," University Book Store will not renew the lease on its Mill Creek, Wash., store and close it on October 19. The store has been in business for 15 years.
University Book Store, Inc.--the for-profit corporate trust that benefits University of Washington students, faculty and staff--emphasized that it "remains a healthy business and will focus on its five Puget Sound area locations and a growing e-commerce business at ubookstore.com."
CEO Louise Little added: "We are sincerely grateful for the many friendships made and partnerships formed over the last 15 years, but retail and the way people shop is rapidly evolving and we believe our Trust, which governs our operations, will be better served by primarily concentrating on our University of Washington campus stores and our website ubookstore.com."