Discounter Crown Books to Close 28 Stores

Discount retailer Crown Books said it will close 28 underperforming stores as part of the company’s strategy to return to profitability. The company said it will have 62 stores after the closures. “This past Christmas season was difficult for the retailing sector, including the book industry,” said Charles R. Cumello, Crown’s president and chief executive. Crown’s same-store sales for November and December were down 3%. About 450 full- and part-time employees will be affected by the closures. Crown said some may find jobs at other Crown locations. Liquidation sales are expected to start this weekend, with the stores closing in about six to eight weeks. California stores scheduled to close are in Brea, Costa Mesa, Dublin, Encinitas, Laguna Niguel, Long Beach, Los Gatos, Orange, Santa Barbara, Torrance, Ventura and Walnut Creek.