Albury will soon have only one new bookstore with The Book Grocer set to close.
The chain shop in Olive Street is slated for closure on August 6 after having traded for eight years.
"I'm not a very good businessman and it wasn't making enough money," he said.
"It's pretty sad, but it's just reality.
"I've got a lot of debts and I've got to go and pay them off."
Book Grocer director Jen Slotte said tough trading conditions contributed to the move to shut the store.
"We've been in Albury for a long time and enjoyed being there," she said.
A worker said the four casuals were "all quite sad".
"We've had people travelling to Sydney who stop here specifically to check out our book store," she said.
The closures of The Book Grocer and Splendid Books mean Dymocks will become the only store in Albury-Wodonga specialising in new books.
Myer Albury also shut its book section earlier this year.
There is also change afoot at Dymocks with the owners since 2005, Judith Doughty and David Lewis, putting the business up for sale.
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Ms Doughty said their move was motivated by wanting a change rather than a lack of faith in the book industry.
"We are really genuinely sorry to see the other two book shops close because they offered a different market, particularly The Book Grocer, they sell what's called remainders," she said.
Ms Doughty believes the industry has settled after fears electronic books would banish physical tomes.
"About 30 per cent of our sales come out of the children's section, which is exciting because it shows young children and teenagers are still reading," she said.
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