The Dartmouth Bookstore changed ownership for only the second time in its 132-year history on June 10 when Hanover accountant John Schiffman '62 finalized his purchase of the retailer. The store has been owned and operated by the Storrs family for the past 121 years.
While the new owner does plan to change the bookstore's daily operations and offerings, much of the appeal of the local establishment will remain, including the name and employees.
"I don't think they have anything to worry about," Schiffman said, referring to the store's current employees.
However, the store will likely be run by Barnes and Noble College Booksellers, which operates nearly 500 college bookstores nationwide, including those at Harvard, Columbia and the University of New Hampshire. Barnes and Noble College Booksellers is a separate entity from the regular Barnes and Noble chain.
While discussions are currently ongoing with Barnes and Noble College, and no agreement has been finalized, Schiffman assured that "you will not see the Barnes and Noble label anywhere."
The backing of Barnes and Noble College suggests that the store will again sell textbooks. The Dartmouth Bookstore stopped selling textbooks last year because it was having trouble competing with Wheelock Books when professors stopped giving them book lists. In the sale press conference, Schiffman insinuated that the store will again sell textbooks for Dartmouth and will be "absolutely price-competitive." Textbook sales could begin as early as next fall.
The current renewal sale will continue through the summer until the current stock is sold out, and remodeling will take place while the store is being restocked. The store plans to remain open throughout the remodeling and restocking process.
Schiffman said he expects the "brand-new store" to be open by convocation.
In 1985 previous store manager Dave Cioffi invested in the textbook area of the store, including concrete floors, cash registers and an elevator, but the store has had trouble retailing textbooks since.
Facing increased competition from the Internet and Wheelock Books, which opened in 1992 and sells only textbooks, the Dartmouth Bookstore was forced to stop selling textbooks last year.
The bookstore has long been rumored to be heavily in debt, a predicament that may have been compounded when the store was forced to stop selling textbooks after having made such a major investment.
"As of April 30, 2004, Dartmouth (Bookstore Inc.) had total assets of $813,280 and total liabilities of $1,811,992," according to a May 7 letter from Daniel Sklar, Schiffman's lawyer, to the stores creditors.
The Dartmouth Bookstore was started by Dartmouth students in 1872 and was purchased by the Storrs family in 1883.
Until the change of ownership, the bookstore was the oldest family-owned and operated bookstore in the country.
