Barnes & Noble is closing its store in Preston Royal Village after it was unable to reach a lease agreement with its landlord, Edens, that would allow the store to remain open.
The bookstore will close Sunday, the retailer said in an email, adding that it’s looking for a location nearby. Austin-based outdoor and casual clothing retailer Tyler’s is planning to move into the space later this year, but details are still being worked out, the company said.
“We have truly enjoyed serving our customers from this location for the past 15 years and appreciate their loyalty and support,” Barnes & Noble spokeswoman Amelia Mulinder said. “However, we were unfortunately unable to reach a commercial agreement with our landlord to keep this store open.”
The retailer says it will try to transfer the workers who want to stay with the company to other stores, and it’s referring shoppers to its nearby stores at Prestonwood Center at 5301 Belt Line Road and across from NorthPark Center at 7700 W. Northwest Highway, other area stores and online at bn.com.
Barnes & Noble won the war with Borders a decade ago and still has 600 stores in the U.S. despite competition from Amazon and electronic reading devices.
The chain has new owners and isn’t giving up. Two years ago, hedge fund Elliot Advisors bought the company for $638 million after buying a British bookstore chain, Waterstones, the previous year. James Daunt, who was CEO of the British chain, became CEO of the combined retailers based in New York.
Last month, Barnes & Noble opened a new bookstore in Kirkland, Wash., that has a new design and gives more control over the store to the local staff. It’s a strategy Daunt used in England.
“We hope to reopen in a new location as close as possible to this one, as we are doing with newly designed stores in many communities nationwide,” Mulinder said. “We hope that one will be back in the area before too long.”
Barnes & Noble’s exit follows the recent departure by Dougherty’s Pharmacy, which had been in Preston Royal Village for more than 50 years.
Edens, which has owned Preston Royal Village since 2014, hasn’t responded to a request for information. Since Edens has owned the center on the two northern corners of the intersection of Preston Road and Royal Lane, it has added Shake Shack, Eatzi’s, Sur La Table, Ballard Designs and Sephora.
The Barnes & Noble exit will leave the intersection without a bookstore. Interabang Books moved to a new location on Lovers Lane after a tornado destroyed most of the southeast corner of the intersection in October 2019.