Just start a new library - click on the library button on the toolbar (the one with the books and the count underneath it) and choose the option to create a library at a new location.
You can then if you want use the ability to switch between libraries and the right-click on books of "Copy to Library" to move books from your old one to a new one. Or just add the books from your old library using the normal Add button options, and delete your old library when done.
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