More Depressing Book News

Looks like another well-known independent bookseller is on the ropes (via PW Daily):

After closing its 15-year-old Penn Quarter store in Washington, D.C., on Friday to make room for a Wagamama noodle shop, (Ed. Note: At least it’s not a fucking Cold Stone Creamery.) Olsson’s Books & Records, which is headquartered in Silver Spring, Md., is continuing to be squeezed by publishers. On June 19, three of the largest—Hachette Book Group, Random House and Penguin Group—filed a petition in U.S. Bankruptcy Court to place Olsson Enterprises, dba Olsson’s Books & Records, into involuntary Chapter 7 bankruptcy.