St. Mark's Bookshop Is Still Financially Struggling in Its New Home

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Despite getting a second chance to stay afloat, St. Mark's Bookshop hasn't solved all of its problems by relocating deeper into the East Village for lesser rent (moving in this direction is somewhat of a trend these days, it seems). Neighborhood blog EV Grieve reports that the independent bookstore's owner, Bob Contant, sent a letter to patrons looking for those interested in partial ownership to keep the shop alive.

"We have been approached by an investor who is interested in funding a rebirth of the bookstore, reorganizing and restructuring the business with an eye to long term viability," the letter read in part. "He is looking for others to join him in an investment team." Even though the rent at their new home is much less than what it had been on Third Avenue, construction snafus and storage costs have "left little money with which to buy inventory. Those of you who have visited our new store in recent months may have noticed the understocked shelves."

But in spite of the rough patch, Contant insists that St. Mark's isn't in danger of shuttering. "That's why we're pursuing this," he said to DNAinfo. "We want to take action now to be able to continue.