400 Bookstores to Close by End of 2009

From The Book Blog:

The Chicago Sun-Times reports that analysts expect an avalanche of bookstore closings this year. A new report by Grant Thornton report says 10,000 retail stores will have closed by the end of 2009. Of that number, 400 will be bookstores, which is a 500% increase in bookstore closings since last year. Bookstores are just part of the ugly retail picture, as consumers have put the brakes on spending.