After operating for nearly four decades in Singapore, Times Bookstores announced yesterday (September 16) that it will be closing its last remaining outlet in the country at Holland Road.
Its last day of operations will be on Sunday (September 22), said the business in a statement on Instagram. The bookstore chain also invited customers to pay one last visit, and “take home a piece of Times” with them.
It has been our greatest honour to be a part of your reading journey. Thank you for letting us fill your lives with the wonder of books and the joy of imagination.
Times Bookstores
Although Times Bookstores will no longer have physical stores in Singapore, its book distribution business, which supplies books from international and local publishers to other retailers, continues to operate.
The pandemic exacerbated Times Bookstores’ challenges
Founded in 1978, Times Bookstores is owned by regional consumer group Fraser and Neave, which has businesses in the F&B and publishing and printing sectors.
The book retailer has provided a wide range of English language books across different genres, including children’s books, lifestyle and non-fiction, as well as complementary products.
However, the company has been impacted by increasing rent, low sales, and rising operational costs. In 2019, Times Bookstores closed its 8,000 sqft branch at Centrepoint, which was once one of Singapore’s largest bookstores.
The pandemic exacerbated these challenges, leading the company to close its two outlets at Marina Square and Paragon in 2021.
Earlier this year, it shuttered its Plaza Singapura and Waterway Point branches, leaving the outlet at Holland Road as its last remaining store.
Times Bookstores’ closure leaves only a handful of prominent players in Singapore’s shrinking bookstore market.
Books Kinokuniya, Singapore’s largest bookstore, continues to operate its flagship store at Takashimaya Shopping Centre. However, it closed its JEM branch on May 9, 2022 due to slow sales and rental costs.
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Featured Image Credit: Times Bookstores
