By LINDSAY WELBERS
The Seminary Co-op Bookstore recently ended its relationship with the Newberry Library.
For 15 years the Co-op has managed the library’s downtown bookstore, 60 W. Walton St., but as of Nov. 1, Newberry took over management.
“In talking with them about our future it made the most sense for the Newberry library to operate the bookstore,” said Bill Gerstein, president of the board of the Seminary Co-op Bookstore, 5751 S. Woodlawn Ave. “It was so far away from our core business — but we have a very good relationship with them.”
Gerstein said the split was amicable and was in the best interests for both institutions.
The Newberry bookstore “neither made money or lost money, it broke even,” Gerstein said. “We just wanted to concentrate our efforts in Hyde Park and the Newberry library said they would be very happy to take over our operations.”
Gerstein said the separation is not an indication of major financial issues for the Seminary Co-op. The Newberry bookstore historically broke even, so removing it has little affect on the Seminary Co-Op’s finances.
“We’re not strong [financially.] Everybody knows that. This was the least of our problems,” Gerstein said.