Tuesday, July 26, 2011

Last Weeks Good Bookstore News Is Now Bad Bookstore News

According to Forbes, the Books-A-Million effort to buy 30 Borders stores including the one in Rapid City has fallen through.
Bookstore chain Books-A-Million Inc. says its last-minute talks to buy the leases and assets of 30 Borders bookstores out of bankruptcy have fallen through.
Borders Group Inc. ( BGP - news - people ), which filed for bankruptcy protection in February, received court approval last week to liquidate its 399 stores. The chain said at the time it was talking to Books-A-Million ( BAMM - news - people ) about buying 30 store leases and inventory.
But Books-A-Million said Tuesday those talks were unsuccessful.
A group led by liquidation firms Hilco Merchant Resources and Gordon Brothers Group are now holding going-out-of-business stores at all Borders stores.

No comments: