The Literature Network - Times catch up to Newbury icon.(Business)

Times catch up to Newbury icon.(Business)

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From: The Boston Herald
Date: 20021016
Author:Gatlin, Greg

Byline: GREG GATLIN

Avenue Victor Hugo Bookshop, a Newbury Street landmark that's attracted students, poets and radical thinkers since 1975, will close its doors by year end, bested by the mundane.

Owner Vincent McCaffrey, who opened the store 27 years ago, said he'd weathered two previous recessions. But he said he could no longer withstand three years of declining revenue, mounting debt, costs and taxes, and a shift among used-book buyers to the Internet.

Starting Oct. 24, most of the bookstore's inventory - more than 130,000 volumes - will be marked down to half ...

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