One of America's oldest African-American bookstores, Marcus Books, may be able to stay open if the owners can raise $2.6 million.

 

On June 19, 2013, the San Francisco Examiner reported that Marcus Books was on the brink of closure. The bookstore began in 1960 and has been located in San Francisco for over 50 years. The owners were told to move out by June 18 by the new owners.

During 2006, owners Gregory and Karen Johnson took out a $950,000 loan, but little did they know that the loan was predatory. They paid a fixed monthly rate on a 10 percent interest rate.

Due to the financial stress of the loan, the Johnsons had to file bankruptcy while trying to raise the money to save the building, and the building was placed on the market. Nishan and Suhalia Sweis purchased the building for $1.59 million in April.