Across the U.S., some long-time retailers will close stores in 2026 as leases expire, properties are rebuilt and changes in the retail environment reshape the industry. For bookstores, while digital formats like e-books and audiobooks are growing in popularity, demand for print books remains strong.
The changes come as one of the country’s largest bookstore chains balances closures with a continued expansion strategy. After being acquired by Elliott Investment Management in 2019, Barnes & Noble dropped below 600 stores in 2023, but just two months later in 2026, further closures have been confirmed.
According to a post on Barnes & Noble’s official Instagram account, the store’s Lloyd Center store in Portland, Oregon, will close on May 2, 2026, due to the expiration of its nearly 24-year lease.
“It is with great sadness that we can confirm that our Barnes & Noble store will be closing due to the end of its lease,” the Barnes & Noble Lloyd Center team wrote. “We are delighted to be part of this community and it has been a privilege to be your booksellers for the past 24 years.”
According to Google Maps, after the closure, the closest Barnes & Noble store is located at 9963 NE Cascades Parkway, about 7.5 miles away.
The closure is part of a wider redevelopment of the Lloyd Center, the city’s oldest shopping mall. Owners Urban Renaissance Group and KKR Real Estate Finance Trust have announced plans to demolish the property by the end of 2026.
The 29.3-acre site will be transformed into a mixed-use community including housing, retail, restaurants, entertainment venues, office space and public community areas, according to a news release.
The shopping center will continue to operate during the phased redevelopment to support remaining tenants and community events.
“We believe this initial masterplan demonstrates the huge potential to create inclusive, sustainable and vibrant experiences that will play an important role in the city’s next chapter,” Urban Regeneration Group managing director Tom Kilbane said in a release.
Barnes & Noble confirms it will close more stores in 2026. Shutterstock ·Shutterstock
Portland Barnes & Noble is one of several stores to close in 2026. At least three other stores have closed due to expiration of leases.
After closing several stores over the past 15 years, Barnes & Noble is pursuing an aggressive expansion plan, according to a news release.
The company will open 67 stores in 2025, more than it opened between 2009 and 2019, and plans to add more than 60 new stores in 2026. As of February 2026, Barnes & Noble operated approximately 700 bookstores nationwide.
More store closures:
Barrie Scardina, president of Americas retail services at Cushman & Wakefield, said the company is prioritizing the in-store experience by bringing back the community and demonstrating its value to society.
“Barnes & Noble could have lived a purely digital life and been fine, so it’s nice to see they won’t do that,” Scardina told ICSC. “This is a great example of brands coming back, figuring out what they stand for and taking up space.”
Neil Saunders, managing director and retail analyst at GlobalData Retail, pointed out that Barnes & Noble is adopting a more flexible location strategy and opening new stores in smaller cities, many of which have smaller footprints than traditional models.
“It’s not just about doing what’s been done before at a different scale,” Sanders said in a LinkedIn post. “It’s about rethinking the entire business so everything works together to create success.”
According to data from Grand View Research, the global book market size is expected to be US$156.57 billion in 2025 and is expected to reach US$215.89 billion by 2033, with a compound annual growth rate of 4.1%. The North American book industry has the largest share at 33.21%.
Print still dominates, accounting for 78% of consumer market revenue. However, audio consumption is growing rapidly, with approximately 51% of Americans over the age of 18 saying they have listened to audiobooks in 2025.
While store closures typically mean a reduction in square footage, Barnes & Noble’s recent closings were driven by lease expirations, redevelopment projects and new strategies, rather than weak demand.
As the company continues to open new stores and redesign stores in key areas, it is repositioning its business to balance expansion with a more nimble, experience-focused model.
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This article was originally published by TheStreet on February 28, 2026, and first appeared in the Retail section. Click here to add TheStreet as your preferred source.
