A few weeks ago I accused bookseller McNally Robinson of missing the plot twist following their entry into bankruptcy protection. What I said was (1) that they had expanded at the wrong time, in the wrong way and (2) that they didn’t have an effective strategy for competing with online book sales.
Well, last week McNally emerged from bankruptcy protection and Paul McNally made some public comment on what went wrong, as he saw it. The biggest single factor he cites was the failure of their Don Mills store to meet the sales targets for which they had hoped. He speculated that their strategy of community involvement maybe didn’t play as well in T-Dot, but it has also been noted that the Don Mills mall in which they were located has been a disappointment to many of its retail tenants.