"With great sadness," owner Annie Philbrick announced that Savoy Bookshop & Café, Westerly, R.I., is closing permanently this Friday, July 28.
Philbrick, who opened the store in 2016 and also owns Bank Square Books in Mystic, Conn., and Title IX in New London, Conn., said, "As many of you will understand, running a small business comes with many challenges. While the managers and staff have met many of those challenges head on, we've come to realize that determination does not always guarantee success, no matter how great the effort. After a lengthy review of the business's finances, I have reached the conclusion that the store is no longer viable. Savoy continues to run a deficit year after year due to thin margins, fierce online competition, and increasing costs on nearly all fronts. These factors have become insurmountable hurdles for this business. It's a frustrating and unfortunate reality that many independent bookstores face."
Philbrick added that "for the sake of transparency, employees have been given advance notice of the closure and will be given severance pay." Late last year, Savoy staff voted to unionize, and Philbrick voluntarily recognized the union.
She called Savoy "an important part of downtown Westerly for the past seven years. I have watched this town grow and change in ways I could never have anticipated when we first opened. Together with the store's staff, I have had the privilege of getting to know and serve thousands of customers, many of whom are considered regulars and friends. I am incredibly grateful to each and every one of you for your support through the years, and especially during the pandemic. Your loyalty kept us going."
Savoy opened with the help of developer Chuck Royce and his son-in-law Daniel King, who wanted to bring an indie bookstore to Westerly after its only bookstore had closed in 2014. Royce also helped Philbrick purchase the building housing Bank Square Books last year. Bank Square Books and Title IX continue in business.