Peggy's World of Books was a bookstore run by Peggy. She bought the store because she had a love for books (and wanted to be in the Arlen book club). After a few days, she realized that business was slow and she allowed Dale to "rent" the back and the basement of the store to sell his guns, but only if his customers bought a book with every gun. After things took a turn for the worse (when she finds out members of the book club aren't really interested in books), Peggy sold the store, thus putting herself and Dale out of business. However, some of the people who bought guns from Dale came back asking for Peggy and asking about the books.
After Peggy gives up on the bookstore, Hank puts a "Out of Business" sign on the window and has a brief conversation with the new owner who is shown hanging up a sign that reads "Coming Soon: Liquor Trunk" which is shown later in the series in the episode Be True to Your Fool when Bill goes inside to purchase beer.
Following the closure of her shop, Peggy started her own book club with the people from the gun store in her own home.