Barnes & Noble is closing its Lloyd Center store in Portland, Oregon, on May 2, 2026, after nearly 24 years of operation. The bookstore chain confirmed the closure due to lease expiration as part of a broader retail consolidation trend. The Lloyd Center mall is undergoing a massive redevelopment that will transform the 29.3-acre site into a mixed-use neighborhood.

This closure follows several other Barnes & Noble locations shutting down in early 2026, including stores in Nanuet, NY; Pembroke Pines, FL; and Waterbury, CT. These closures come as the company, acquired by Elliott Investment Management in 2019, has seen its store count fall below 600 nationwide. The Portland location's nearest replacement is approximately 7.5 miles away.

Urban Renaissance Group and KKR Real Estate Finance Trust plan to demolish the existing mall by late 2026. The redevelopment will include housing, retail, restaurants, entertainment venues, office spaces, and public community areas. The phased approach will keep mall operations running during construction to support remaining tenants and community events.