Monday, September 11, 2006

Cody's sold to Japanese independent publisher

Twenty-three years ago Hiroshi Kagawa, fresh off the plane from Japan, walked into Cody's on Telegraph Avenue in Berkeley, CA, to marvel at the famed stores large collection of great, independent book titles. Today, the CEO of Yohan, the largest Japanese importer of English language titles, is buying it.
Cody's, two months removed from closing its flagship store on Telegraph due to lagging sales, has long been rumored to be on the auction block. Claimed Andy Ross, Cody's former owner,

"I kept hoping some Berkeley radical would help us out," Ross said about his search for an investor. "I never expected that the help would come from Japan."
Bay Area reaction, of course, hasn't been completely welcoming. Scott Esposito says...
The San Francisco Chronicle is cautiously optimistic.


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