Paperback Exchange is one of more than 100 vendors that will be at the Book Fair for Grown-Ups at the Minnesota State Fairgrounds on July 12.

MINNEAPOLIS, Minnesota — After a water main break in southwest Minneapolis forced multiple businesses to temporarily shut down in February, at least two are now closing for good. 

Sparrow Cafe announced last month it would not be reopening, while Terzo is also now permanently closed. 

One business still hoping to return to the community is Paperback Exchange. 

The beloved bookstore first opened near the corner of 50th & Penn Avenue South in 1975. 

“It was started by a small group of local teachers and women who just wanted to own a bookstore. About in ’91, the Herseys — the family who owns it now — decided to buy it when the women were done managing it. They’ve had it ever since,” explained Rachel Pedersen, the store’s manager. 

But Paperback Exchange spent its 50th anniversary closed to the public. 

February 13, a water main break flooded the 50th & Penn building, taking with it more than 100,000 books or about 80% of Paperback Exchange’s inventory. 

RELATED: Water main break leaves beloved Paperback Exchange drowning in loss


“It was a place that I felt was a second home to me, and it was beyond devastating to see it be destroyed in that way,” Pedersen said. 

Back in February, owner Marion Hersey told KARE 11, “It’s too soon to really tell what will happen next.” 

Five months later, the business is still trying to find a way forward. 

Despite it being the city’s water main that broke, Pedersen said, “Unfortunately, because the city hasn’t offered any financial compensation for what happened, a lot of businesses have been forced to close. Currently, the landlord of the Penn Place building has been forced to pay for everything out of pocket. So that means there’s still no floors, no water, no electricity. We could not commit to that building at this time just because everything is so uncertain.” 

Pedersen, who has been working out of her home, said they’re currently looking for storefronts or even a temporary space. They’re hoping to stay in the neighborhood. 

RELATED: The Paperback Exchange returns for Independent Bookstore Day… with help from a friend


Pedersen said, “50 years is a long time and a legacy and we want to keep that going if we can.” 

If you’d like to support Paperback Exchange, they have a GoFundMe page. 

Paperback Exchange is also one of more than 100 vendors that will be at the Book Fair for Grown-Ups on Saturday, July 12. 

It’s happening from noon to 7 p.m. in the Education Building at the Minnesota State Fairgrounds.