We've written previously about the trials of Glad Day bookstore: back in 2010 when reports first came out that the store was teetering, and since we las tlooked the story seems to have improved. Under new ownership, Glad Day will be kept open. From Xtra.ca:

A group of investors announced Feb 8 that they will unite to rescue the Yonge St bookstore from closure – a fate that seemed imminent after owner John Scythes said he was selling the shop earlier this year.

“I really didn’t want to see Glad Day close its doors – it has been, and continues to be, so important to so many people,” Scythes said in a press release. “I’m very happy. I’m trying to hand over the store in good condition, and I'm very busy,” he said in a brief phone call with Xtra.

The group of investors is pretty eclectic, according to Torontoist:

“As individuals, none of us are rich. But collectively, there will be over 20 of us in the end, and we can pull it off,” said Michael Erickson, who spearheaded the purchase, which has yet to be finalized. He wouldn’t disclose the value of the deal.

Erickson is by profession a high-school teacher at Harbord Collegiate, where he specializes in English and Creative Writing, but the rest of the buyers are an eclectic mix of lawyers, government workers, playwrights, musicians, community activists, even former Glad Day employees. Charles Smith, 23, is the group’s youngest investor.

It's a happy day for Glad Day and the community it serves. Oh, and John Scythes, the owner who now gets to hopefully take some time off and enjoy his windfall.

Photo by Bethany Horne.