Wednesday, December 30, 2009

Future uncertain for McNally Robinson

This was one of the bigger shockers of the holiday season locally. The company seemed to be doing just fine, but evidently not:

Analysts believe the company that once famously stuck its finger in the eye of the book-retailing giant, Chapters Indigo, probably fell victim to circumstances beyond its control.

McNally Robinson Booksellers and the husband and wife owners, Paul and Holly McNally, had been heralded among the great entrepreneurial success stories in the province.

But in filing for bankruptcy protection, many believe the company succumbed to a combination of the sudden surge in e-book sales and an ill-fated foray into southern Ontario that coincided with a dramatic drop in consumer confidence in that region.
From the Winnipeg Free Press. Hopefully the remaining stores will stay open (and not be bought out by Chapters), but it's hard to say.

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