ANOTHER BOOKSHOP TO DISAPPEAR?

Hot on the heels of the demise of the Borders bookshop chain in Singapore comes news that Page One's flagship store at the VivoCity mall could be set to close next March.

Last Saturday's The Straits Times reported how the retailer has been recording a S$600,000 to S$800,000 (THB14.5 million to THB19 million) loss per year since it opened in 2006. Rent negotiations are currently underway pending the expiry of the current lease in five months time.

The impact for regional and global magazine publishers, coming so soon after Borders' closure, could be severe. The two Borders outlets and this Page One store are responsible for some of the best magazine sales throughout the city. Kinokuniya is now the number one outlet for magazines in Singapore but they've refused to take more copies of magazines to make up for those which were previously sold by Borders.

There are less magazines on sale in Singapore, which ultimately means less revenue for publishers.