Hard times force closure of Bailey/Coy Books on Capitol Hill

Bailey/Coy Books, long an anchor for literary, cultural and social life on Capitol Hill's Broadway, will be closing its doors at the end of the month. In an e-mail news release sent out this morning, owner Michael K. Wells — who bought the business from founder Barbara Bailey in 2003 — explained that the store, at 414 Broadway E., has been struggling in the past decade.

Chris Kissel, a writer for the Web site PubliCola who works at Bailey-Coy, noted, "The store spent much of the last year paying off debt with banks and book wholesalers, and is in better shape to close now than it would have been a year or two ago."

Wells added, "The economic downturn of the past year, combined with the rapidly changing world of bookselling, has led us to believe that this is the most responsible decision."

Wells also made clear that recent announcements that hard-pressed Elliott Bay Book Company may move to Capitol Hill as a way to stay in business were not a factor in his decision to close the store. "We wish Elliott Bay Book Company and all Seattle independent bookstores the best of luck in this challenging time," he said.

A closing sale starts this week, with all items in the store 20 percent off. "Gift certificates and redeemable book cards will be accepted until the final closing date," Wells wrote, "at the end of November."

Founder Barbara Bailey first established the store in Rainier Square in 1977. She opened a second store on Broadway in 1982, which became Bailey/Coy books the following year.

Michael Upchurch: mupchurch@seattletimes.com