Kepler's Moves Closer to Reopening

Kepler's, the popular Menlo Park, California, institution that shut its doors suddenly on August 31, has one, albeit large, obstacle to overcome in order to reopen, according to Anne Banta, Kepler's chief marketing officer: renegotiating its lease with landlord The Tan Group of Palo Alto.

Banta told BTW that negotiations with the Tan Group were underway, but, she stressed, "Time is critical -- we would like to see them close this week and get the employees back in right away" to open the bookstore in preparation for the holiday season.

If owner Clark Kepler is able to come to terms with the Tan Group and reopen the store, it would be the denouement to a drama that began in late August when Kepler, citing the store's inability to rebound from the economic downturn since 2001, abruptly shut the bookstore's doors. Less than a week later, on September 6, community support for the 50-year-old cultural institution culminated in a rally that drew more than 450 people, and Kepler had received pledges of support from an array of elected officials, business leaders, and others in the book industry.

On Monday, September 19, Kepler's announced the formation of a "Patron's Circle of 17 community-minded individuals who will provide the financial basis for the bookstore's renaissance and a Board of Directors that will add substantial financial and business expertise to Kepler's while keeping its heart and soul alive."

Among the members of the Patron's Circle are Daniel Mendez, CTO of Visto Corporation (a wireless technology firm); Geoff Ralston, chief product officer at Yahoo!; and Bruce Dunlevie, general partner at Benchmark Capital. An additional board seat has been established to be filled with a director who has experience in the book industry or publishing world, the bookstore release noted.

Thus far, Kepler's has received over $500,000 in pledges from investors, which would come to fruition when and if the bookstore opened its doors, Banta said. This money would be earmarked to pay back debts, buy books, establish long-term marketing programs, and build a much broader and deeper website, she reported.

In the meantime, Banta told BTW that Kepler had spoken with vendors, who "have been supportive" of his situation, but "there comes a point where time runs out. Right now, they're in a holding pattern." Kepler's must open its doors no later than October to secure the business, especially for the holidays, the release noted.

"It is incredible to me how many people have expressed that they want Kepler's to reopen and continue on for decades to come for themselves, their children, and their children's children," Kepler said in a statement. "For these people and for myself, I thank the Patron's Circle, City Council, and overall community support from the bottom of my heart." --David Grogan