153-year-old bookstore chain confirms more closures in 2026

Across the U.S., several longtime retailers are closing locations in 2026 as lease expirations, property redevelopments, and shifting retail conditions reshape the industry. For bookstores, while digital formats like e-books and audiobooks have grown in popularity, demand for print books remains strong.

These changes come as one of the country’s largest bookstore chains balances closures with an ongoing expansion strategy. Barnes & Noble, whose store count fell below 600 in 2023 following its 2019 acquisition by Elliott Investment Management, has already confirmed additional closures just two months into 2026.

Barnes & Noble confirmed that its Lloyd Center store in Portland, Oregon, will close on May 2, 2026, due to the expiration of its lease after nearly 24 years of operation, according to a post on the store’s official Instagram account.

“It is with great sadness that we confirm the closure of our Barnes & Noble bookstore as our lease has ended,” wrote the Barnes & Noble Lloyd Center team. “We have loved being a part of this neighborhood and it has been our honor and privilege to be your bookseller for the last 24 years.”

After the closure, the nearest Barnes & Noble location will be approximately 7.5 miles away by car at 9963 NE Cascades Parkway, according to Google Maps.

The closure is part of a broader redevelopment of Lloyd Center, the city’s oldest mall. Owners Urban Renaissance Group and KKR Real Estate Finance Trust have announced plans to demolish the property by the end of 2026.

The 29.3-acre site will be transformed into a mixed-use neighborhood with housing, retail, restaurants, entertainment venues, office spaces, and public community areas, according to the press release.

Mall operations will continue during the phased redevelopment to support remaining tenants and community events.

“We believe this initial master plan demonstrates the incredible potential to create an inclusive, sustainable, and vibrant experience that will play a major part in this city’s next chapter,” said Urban Renaissance Group Managing Director Tom Kilbane in a press release statement.

The Portland Barnes & Noble is one of several locations that shut down in 2026. At least three other closures have occurred due to lease expirations.

After closing several stores over the last 15 years, Barnes & Noble is pursuing an aggressive expansion plan, according to a press release.

The company opened 67 stores in 2025, more than it had opened from 2009 to 2019, and plans to add more than 60 new locations in 2026. As of February 2026, Barnes & Noble operates around 700 bookstores nationwide.

More Store Closures:

Barrie Scardina, President of Americas retail services for Cushman & Wakefield, said the company is prioritizing in-store experience by bringing back community and showing its value in society.

“Barnes & Noble could have had a digital-only life and been perfectly fine, and so it is exciting to see that they are not going to do that,” Scardina told ICSC. “It is a great example of a brand coming back, figuring out what it stands for and taking space.”

Neil Saunders, Managing Director and Retail Analyst at GlobalData Retail, noted that Barnes & Noble is adopting a more flexible location strategy, opening new stores in smaller cities, many with a smaller footprint than its traditional format.

“This isn’t just about doing what has been done before on a different scale,” Saunders said in a LinkedIn post. “It’s about rethinking the business as a whole, so everything pulls together to create success.”

The global books market size was estimated at $156.57 billion in 2025 and is projected to reach $215.89 billion by 2033, growing at a 4.1% CAGR, according to Grand View Research. North America’s book industry held the largest share, at 33.21%.

Print remains dominant, accounting for 78% of consumer market revenue. However, audio consumption is rising rapidly, with around 51% of Americans over 18 reporting that they have listened to an audiobook in 2025.

While store closures often signal footprint shrinkage, Barnes & Noble’s recent shutdowns have been driven by lease expirations, redevelopment projects, and a new strategy rather than weakening demand.

As the company continues to open new locations and redesign stores in key areas, it is repositioning its business to balance expansion with a more flexible, experience-focused model.

Related: Applebee’s confirms more closures in 2026 as new concept expands

This story was originally published by TheStreet on Feb 28, 2026, where it first appeared in the Retail section. Add TheStreet as a Preferred Source by clicking here.