Lichtman's

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Lichtman's, officially known as Lichtman's News and Books, was a Canadian chain of independent bookstores. [1] The company was established in 1909 with the opening of a shop in Toronto. [1]

It filed for bankruptcy protection under the Bankruptcy and Insolvency Act in March 2000. [1] [2] President Gerry Ruby stated that the company was losing sales to big box retailers Chapters and Indigo Books and Music, and internet retailers such as Amazon. [1] [2]

In the preceding four years, the company's annual revenues had declined from $13.5 million to $9 million. [1] The company shifted focus to selling specialty publications in an attempt to staunch the declining revenues, but was ultimately unsuccessful. [1] Moreover, it was refused a renewal of its lease at Bayview Village because the landlord had guaranteed a new Chapters outlet it would be the only bookstore at that location. [1]

References

  1. 1 2 3 4 5 6 7 "Lichtman's files for bankruptcy protection". CBC News. 7 March 2000. Retrieved 27 October 2021.
  2. 1 2 Wilton, Dawn (31 March 2000). "Lichtman's surrenders in book war". The Globe and Mail . Retrieved 27 October 2021.
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