Independent bookshops looking for buyers

More than 20 independent bookshops across the UK are looking for buyers, according to industry publication, The Bookseller.

The magazine has counted at least 22 bookshops that are currently clamouring to find a buyer, with many of the owners citing the recession, online book sales and difficulties in borrowing money from banks as reasons behind their decisions to sell.

Businesses on offer range from a book and card shop in Preston on the market for just £10,000, to a North Yorkshire specialist vendor that is being sold for £175,000.

David Mainwaring is one of the retailers who has decided to sell up. He has run Books Plus in Penzance in Cornwall for nearly 20 years with his wife, Barbara, but is looking to retire. Passing on the reins, however, is proving difficult as the shop has been for sale for eight months - a problem that David has realised is caused by a number of reasons.

"Number one, nobody is buying, so the number of stores up for sale is increasing," he said. "And number two, the recession isn't helping—but it is probably worse for bookshops because of the negative press surrounding the rise of e-books and competition from Amazon, which is going to put off a potential buyer."

A shop in Scotland, however, has recently sold after just a month on the market. The business broker who handled the sale said, "It's true that it's a tough market out there, but there are a lot of people passionate about physical books, and if you are selling at the right price to the right person, that's all that matters."