The Yale Co-op's troubles began when, in 1997, Yale refused to renew the store's lease, and Barnes and Noble took over, creating the Yale Bookstore.
The Yale Co-op moved to a less central location one block from the edge of campus. It lost its title as Yale's official bookstore, and professors were encouraged to send book orders to the new Yale Bookstore.
Two years later, the Co-op filed for bankruptcy. Wallace Bookstores, Inc., based in Kentucky, which manages many other college bookstores, took over the store under bankruptcy protection.
But on Wednesday, Wallace Bookstores closed the Yale Co-op. The Co-op owes creditors over $1.2 million.
The Harvard and Yale Cooperative Societies are operated independently from their respective universities.