- Associated Press - Saturday, June 6, 2015

LINCOLN, Neb. (AP) - One of Lincoln’s oldest retail establishments - and a destination for fans before home Nebraska football games - is closing its doors.

The University of Nebraska has agreed in principle to buy the Nebraska Bookstore building and real estate for $4.75 million, the Lincoln Journal Star reported (http://bit.ly/1KgTVHf ) Saturday.

Nebraska Bookstore has operated under that name at two different sites since 1937. It was once the flagship store for its owner, Nebraska Book Co.

But the bookstore is no longer performing up to expectations, the company said.

The company “regularly reviews the performance of off-campus stores and closes stores that do not indicate the ability to deliver growth,” it said in a written statement. “The decision to close a store is never an easy one, but is important in maintaining the health of our overall operations. This store closing is consistent with our strategy of regularly reviewing all areas of our business to ensure a leading position in the higher education marketplace.”

The building sits across from the main entrance to UNL’s City Campus, the Visitor’s Center and the Ross Media Arts Center. It contains 56,000 square feet on three floors.

Built in 1985, the land and building are assessed at $3.5 million, according to the Lancaster County assessor’s website.

The store, which offers Big Red clothing lines in addition to textbook rentals, will close “on or about June 8,” company officials said. It employs 20.

The university has not said how it will use the property. The Board of Regents is set to vote on the agreement to buy it on Friday.

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Information from: Lincoln Journal Star, http://www.journalstar.com

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