Business Briefs

Three Triangle bidders vie for Quail Ridge bookstore

Posted February 12, 2013

Longtime owner Nancy Olson plans to sell her popular independent Raleigh bookstore, Quail Ridge Books & Music, and retire.

— Three buyers are in the running to be the new owners of a popular independent bookstore in Raleigh.

Mark Kaufman of Paz & Associates, the consultant assisting longtime Quail Ridge Books & Music owner Nancy Olson sell her west Raleigh store, said all three potential buyers are local. Confidentiality agreements prevented him from providing more details.

Thirty-five buyers expressed interest after Olson announced in November her plans to sell, but many dropped out during the process, and most of those that remained couldn't come up with enough money, Kaufman said.

The final three bidders could make offers within the next week, and a decision could be made by early April, he said.

Located in the Ridgewood Shopping Center on Wade Avenue, Quail Ridge has annual sales of about $3 million and stocks about 70,000 titles. It opened in 1984 and was named Publishers Weekly Bookseller of the Year in 2001.

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  • btneast Feb 14, 10:32 a.m.

    admyank, never going to happen. As long as people love books there are always going to be bookstores

    Maybe so, but in a much more diminished presence. I remember back maybe 10 years or so ago, I had my 35MM camera repaired at a local camera shop.....got into a conversation with someone there about how digital cameras were taking over the film camera market. He said "no way, digital will never be better and dominate the market".....we now see that was not the case. I love books and bookstores too, but I surprisingly like reading books on my Kindle too....much more than I ever thought I would.

  • timewarrior Feb 13, 12:45 p.m.

    admyank, never going to happen. As long as people love books there are always going to be bookstores.

  • admyank Feb 13, 10:07 a.m.

    I would not be stumbling over a book store. Profits are down across the major bookstores, and the smaller stores are starting to see less and less traffic.

    The end of the bookstore is near - so be ready for it.

  • Mr. Middle of the Road Feb 12, 3:33 p.m.

    Thats a great store.

  • Scubagirl Feb 12, 2:55 p.m.

    Hope whoever ends up buying it is NOT a big box kinda person...that would certainly ruin it.

  • Pepe Silvia Feb 12, 2:37 p.m.

    JenA, I agree 100%!

  • JenA Feb 12, 1:30 p.m.

    I do hope whoever purchases the store cherishes it as much as Ms. Olson has!