Chapters at John and Richmond to close

The Chapters Festival Hall at the cornerof John and Richmond Streets will close in early summer, the store announced.

The reason for the closure is the lease, according to management. But increased competition from online book retailers and digital books bought directly on e-readers is suspected of playing a large role.

The closure continues a trend of brick-and-mortar book sellers ceasing operations, with at least four notable stores closing in Toronto in the last few months, including another location ofChapters in Bloor West Village, whichclosed in the fall.

"We, like every great retailer, regularly review, assess and negotiate lease arrangements for all of our store locations when the leases near expiry.After lengthy negotiations, we have made the difficult decision not to renew our lease forChaptersFestival Hall at John and Richmond in Toronto, and will close the store, effectiveMay 30, 2014," management said in a statement.

Chapters,a subsidiary of Indigo Books and Music, is a big-box chain book sellerwith around230 stores across Canada. It began as a retailer after the closure ofColesandSmithBooksbefore being bought out by Indigo in 2001.