This Saturday Durham institution, the Book Exchange, will close its doors for the final time amidst mounting financial pressure from a depressed market.
Loved by many Durham locals and Triangle law students-but familiar to few Duke undergraduates-the bookstore has been a downtown mainstay since it was founded by current owner Fran Feinberg's father in 1933.
Feinberg cited three years of operating at a loss as the primary factor in her decision to close the store.
"It's like watching yourself bleed to death," she said. "Emotionally, I'd like to keep [The Book Exchange] for the rest of my life."
Over the years, ownership of the Exchange has passed from her father to her mother to her brother and, finally, to her.
The store will likely be remembered for its loyal customers and staff. Former manager Curtis Pergerson worked at the Book Exchange for over 40 years, retiring a year and a half ago when forced by injury; his son promptly took over managing the store.
"He was always somebody who worked literally 20-hour days during book rush," fellow employee Melissa Packard said. "The reason the book store was successful was because of Curtis."
Third-year law student Jim McDonald's reaction was similar.
"It's terrible," he said. "Curt was the most knowledgeable person about what law students needed to focus on. It's not that you're losing the books, it's that you're losing Curt."
Packard said she and the store's other employees are all motivated by this same passion.
"I work here because I love books," she said.
Despite a dedicated customer and staff base within the local community, Feinberg and Packard both said the store relied primarily on sales of law textbooks to turn a profit. At one point, law students from as far away as Elon, the University of North Carolina at Greensboro and Campbell University would come to the store for their books. North Carolina Central University and Durham Technical Community College undergraduates would also purchase textbooks there, although the NCCU campus bookstore was one of the Exchange's primary competitors.
With increased pressure from these neighboring campus bookstores, including Duke's-as well as mall-based and online retailers-the managers said the Book Exchange has found it difficult to compete in a particularly lean economy.
Feinberg said that she was very grateful for the Durham community's ongoing support of the Book Exchange.
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