Drag bookstore closes after 3 years

The marquee above Follett’s Intellectual Property, the bookstore on the Drag, reads “Bye Bye Austin.” Inside, students and other Austin residents walk through the store taking advantage of the 30-percent-off sale on all books.

Despite a reduced lease from the University Co-op, which owns the space, the bookstore will close its doors in mid-March after the three-year lease is over.

“The University of Texas administration has been very supportive of our efforts,” said Cliff Ewart, spokesperson for Follett Higher Education Group, which owns the bookstore. “Even with all of that support, it just didn’t meet our sales expectations.”

Ewart said the store received suggestions from the University on what books to carry and received $75,000 a year from the Co-op through the University for promotional events such as faculty book signings and other marketing approaches. 

“Ultimately, it’s a function of retail environment; the economy certainly didn’t help,” said Elio DiStaola, a spokesman for Follett Higher Education Group. “We just didn’t have enough foot traffic. I don’t know, I wish I could go inside of a customer’s mind.”

University officials came to UT Co-op President and CEO George Mitchell and asked if he could help establish a bookstore on the Drag since Barnes & Noble, the only bookstore on that street, had closed years before. Mitchell agreed, and Intellectual Property was given a reduced lease.

“Where [University Federal Credit Union] is now, we rented that to Barnes & Noble for eight years and they couldn’t make any money, so they closed up,” Mitchell said. “We wanted to help have a store there.”

Mitchell said he was notified in December that the bookstore did not intend to renew the lease. Plans for what business will fill the vacancy are still unclear.

Undeclared freshman Elizabeth Rose and radio-television-film freshman Katie McDowell browsed through Intellectual Property together while lamenting the store’s closure.

“They have some really cool books that you can’t find anywhere else,” Rose said. “They also have a nice film section for [Katie].”

Both women agreed the location was convenient, and they couldn’t immediately think of another bookstore near the campus.

“We’re just going to have to order them online,” Rose said.

Follett Higher Education Group has no plans to relocate the bookstore to another Austin location.

“The Austin community has been absolutely wonderful to be in, and we’re gonna miss it,” DiStaola said.

6 comments

Kristen

Thu Feb 12 2009 11:50

The space is hardly the right size for a fast food restaurant. Have you ever even been inside the store?? It used to be a movie theater before it was tower records. A lot of things have trouble surviving on the drag, this place needs to be something really cool and affordable to keep students coming in to support it, because the rent is outrageous.

Kelly

Fri Jan 23 2009 02:14

How about a Kentucky Fried Chicken or Long John Silvers? There really aren't any fast food locations near campus which offer fried chicken or fish and chips. Or maybe it should be a parking lot .... the location would receive an unlimited supply of traffic. The Mural wall should be retained to provide cover for the homeless who may relieve themselves behind the wall and then pop out unexpectedly to frighten passersby in the middle of the night.

Joe

Thu Jan 22 2009 13:35

What about a Whataburger? The nearest one is miles away from campus, thus too far for those of us who do not own vehicles. From discussions and observations I have taken part in, I think that a Wataburger would be profitable especially in that convenient a location. Besides, no matter what the economic situation, people are bound to eat.

Jack Leifer

Thu Jan 22 2009 13:33

How about opening a theater that shows old movies? They could call it "The Varsity"

My thoughts...

Thu Jan 22 2009 11:40

Brave New Books is on campus... thriving even during this downturn without any University support. Too much overhead and people these days don't read. Gotta find a niche market if you are going to be a brick and mortar bookstore in the 21st century.

Preston Sturges

Thu Jan 22 2009 10:55

Gosh, maybe Wachovia could open up a branch there. They could get plenty of free publicity by threatening to paint over the Varsity mural; then, at the very last minute when all hope seems lost, they realize the value the mural holds for the community and decide to leave it as it is. Austin film lovers rejoice and take out huge loans they can ill afford at Wachovia. A real win-win, wouldn't you say?

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