Vroman’s Bookstore, a Pasadena landmark that has served Southern California for 130 years as a community center, supporter of nonprofits and venue for renowned authors including Ray Bradbury, Salman Rushdie and former President Bill Clinton, is up for sale.
Joel Sheldon, chairman and majority shareholder of the flagship Vroman’s on Colorado Boulevard, a smaller Vroman’s in Hastings Ranch and Book Soup in Los Angeles, says he plans to sell all three locations.
“I’ll be 80 years old soon, and my energy level isn’t as good as it used to be to keep it all going,” he said. “I figure I deserve a little time on my own … and Vroman’s deserves a change so it can move forward with new and vibrant ownership.”
No to national retail chains
Sheldon hasn’t identified a buyer, but he’s clear on one point: no national retail chains. He hopes instead to sell the business to a local entrepreneur or investment group.
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“We want someone who really appreciates Vroman’s and wants to continue it as a community resource,” he said. “So we’ll start with local people — maybe a family or group of younger people who would really look forward to this.”
Sheldon has been in charge of the business for 45 years and wants all the stores’ employees to be kept on under new ownership. That includes 123 employees at the Colorado Boulevard location, 13 in Hastings Ranch and 18 at Book Soup.
“It will be business as usual for shoppers,” he said. “We’ll do everything we can to keep things running and moving into the future.”
Sheldon figures it will take at least a year to find the right buyer.
“We’ll take our time,” he said. “We want the right people.”
Employees at the two Vroman’s locations were informed of the company’s intent to sell early Wednesday, while Book Soup employees learned of the plan later in the day.
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