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Books a Million

Books a Million

Books-A-Million Begins Moving Into Former Borders Stores

By Dianna Dilworth on August 9, 2011 3:08 PM

Despite the fact that Books-A-Million’s offer to acquire 30 Borders stores fell through, BAMM is getting ready to open new stores in former Borders locations in the South. Last week, the company reported that it would be opening a location in a former Borders store in Charlotte, NC.

Today, the company announced that it will be opening a new store in Sumter, South Carolina, in the former Borders location at the Sumter Mall. This will be the 233rd BAMM store nationwide and 15th in South Carolina. It is tentatively scheduled to open on August 25.

Like others in the chain, the BAMM store will sell Barnes & Noble’s Nook eReading devices.

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Books a Million, Borders

Books-A-Million Pulls Offer for 30 Borders Stores

By Nate Hoffelder on July 26, 2011 10:00 AM

BAM!’s plans to expand into the northeastern US fell through yesterday, dashing the hopes of the customers and employees of those stores.

Books-A-Million had submitted a bid last week to buy the inventory, fixtures, and equipment for 30 Borders stores.Unfortunately, lawyers for the soon-to-be second largest US bookstore chain told the bankruptcy judge yesterday that they couldn’t work out a deal with Borders.

Clyde B. Anderson, Chairman, Chief Executive Officer and President said, “we worked exhaustively in an effort to acquire these stores and reach agreements with all of the parties whose consent was necessary. Unfortunately, we were unsuccessful.”

The exact details were not released, but it had been hoped by many that BAM! would be able to acquire the stores and thus prevent communities from losing an employer, community resource, and in some localities their only major bookstore.

The deal would have saved around 1,600 jobs. The liquidation of Borders stores began on Friday, with all stores scheduled to close by the end of September.

via

image by fsse8info

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