Papamoa’s Xanadu Book Exchange owner calls in liquidators as costs soar
The beloved book warren Xanadu Book Exchange has closed its doors for good after a long battle to survive.
The book store and its neighbouring secondhand store in Ashley Pl in Pāpāmoa East have been entered into voluntary liquidation.
Owner Briar Simons said she had closed Xanadu permanently, claiming costs to operate both stores rose to $40,000 a month.
“I can no longer afford that,” Simons told the Bay of Plenty Times.
“I have given the business 2O0% for the last 12 years to no avail.”
Simons also said she had taken out a loan ”which is $700 a day for the next two months".
“Unfortunately, my sales came nowhere near what I needed to keep the businesses open.”
Last week, Simons said she decided it was best to close the doors and “call it a day”.
“Because of the financial pressure brought on by not having enough sales, I have gone into voluntary liquidation.”
Tucked away in an industrial estate, the book exchange had a reputation for attracting visitors from around the world.
Its inventory included pre-loved books across fiction, non-fiction, art, classics and self-help, plus DVDs, CDs, vinyl records, jigsaw puzzles and board games.
Adjacent spaces featured collectables, jewellery, craft supplies and furniture.
Before opening the bookstore, Simons was a well-known bookseller around Greerton markets, until her collection grew too large.
Paul Manning from BDO Tauranga Ltd and Thomas Rodewald from Rodewald Consulting Ltd were appointed liquidators on November 4, and their first report is due on November 11.
Simons said the liquidators have taken control of the business and would sell all stock in ongoing weekend sales.
“All my regular customers are upset. I have 3900 followers, so many of them will be very disappointed, as I am.
“I will be glad when this is all settled. It’s heartbreaking for me, as I have devoted so much of my time building up the stores, and now it’s finished.”
When asked about customers owed funds from book credits, Simons said that question was best put to the liquidators.
Simons announced the permanent closure to her customers on Facebook, many whom met the news with doubt.
Comments included an offer from a woman who worked in debt management to help Simons “problem-solve”.
Another post read: “So sad for you, Briar. It’s like a kauri tree has fallen in Pāpāmoa”.
Another regular customer said they had visited the book exchange monthly.
“Being an absolute book addict, I know most second-hand bookshops in NZ ... and Xanadu is the very best. What can we do to keep it going?”
When NZME spoke to Simons in January, she said after downsizing from three to two buildings, her situation had improved, but her biggest challenge was paying the rent.
At the time, she said the economy and rising prices dictated customers’ spending habits, and when money was tight, buying books was “a luxury”.
The liquidators said a liquidation sale of stock would take place on site from 9am to 3pm on November 15 and 16.
Alastair Beer Auctions is running the sale and it is open to the public.
“The sale includes thousands of second-hand books covering all categories, CDs, DVDs and various other household items. We advise people to bring their own carry bags or boxes.”
The liquidators said they will accept cash, Eftpos and credit card transactions.
“Unfortunately, any [Xanadu Book Exchange] customers with a store credit are unable to utilise this as it will be an unsecured claim against the liquidation.”
Sandra Conchie is a senior journalist at the Bay of Plenty Times and Rotorua Daily Post and has been a journalist for more than 26 years. She mainly covers police, court and justice stories, as well as general news. She has been a Canon Media Awards regional/community reporter of the year.