Sale of Aspen’s Explore Booksellers progressing as planned |

Sale of Aspen’s Explore Booksellers progressing as planned

The sale of Explore Booksellers and Bistro is progressing to completion Friday as scheduled, according to parties on both sides of the deal.

Documents were signed Tuesday and additional documents will be signed Thursday in advance of the transaction closing on Friday, said Karen Setterfield, the listing real estate broker.

The bookstore will transfer from the current owner to the new owner when it opens on Friday, Setterfield said.

A limited liability corporation established by nonprofits under the umbrella of the Public Interest Network has a contract to buy the bookstore for $5 million. The popular Aspen institution is being sold by Samuel Wyly’s Explore Booksellers and Bistro Real Estate LLC. The bookstore was operated by a separate entity owned by Wyly’s wife, Cheryl.

Doug Phelps, chairman of the board of directors of the Public Interest Network, said the organization is committed to running Explore as a bookstore.

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