• Skip to main content
  • Skip to primary sidebar
  • Login
  • Register

Publishers Lunch

The Publishing Industry's Daily Essential Read

  • Publishers Marketplace
  • Site Guide
  • Help

Books-A-Million’s Borders Bid Fails, But It Will Still Occupy A Few Spaces

July 26, 2011
By Michael Cader

Books-A-Million announced late Monday that their effort to acquire 30 Borders stores “has ended unsuccessfully because the parties could not agree on terms and the going out of business sales at these locations commenced.” CEO Clyde Anderson said in the announcement “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.”

BAMM will still take over at least a few vacating Borders locations, apparently through direct negotiations with the landlords. So far, the bookseller has had success with mall owners The Cafaro Company in particular. Announcements from the real estate company indicate that Books-A-Million will occupy Borders superstore spaces at the Huntington Mall outside of Huntington, WV, the Kennedy Mall in Dubuque, OH and the Sandusky Mall in Sandusky, OH later this year. All three were on the option list of five additional stores BAMM was considering beyond the 30 they formally offered on. (We’re just guessing on the Sandusky location; it was reported as “San Veste, OH,” which doesn’t seem to exist.)

Books-a-Million is taking over two other Cafaro-owned Borders Express spaces as well. They announced in mid-June that the chain would take over smaller spaces in Bridgeport/Clarksburg, WV and Erie, PA. Clearly BAMM and Cafaro have a good working relationship, since the real estate company also owns the mall in Fredericksburg, VA that houses the former Josepth-Beth Booksellers space that Books-a-Million agreed to occupy in April.

Separately, the Tennessee government has been formally notified of the closing of Borders’ La Vergne distribution center (located on Walden Books Drive) by September 1, eliminating 283 jobs.
BAMM release
Tennessean

 

Filed Under: Bookstores, Finance, Free

sidebar

Primary Free Sidebar

Login


Forgot password
Quick Pass users click here to log in
Get Full Access
The publishing industry's essential daily read

Each Publishers Lunch Deluxe subscription includes full access to our searchable multi-year archive of industry news, a nightly email reporting 10 to 50 deal transactions, and our database of industry contacts, scripts, and posting privileges.

Learn More

RSS Automat

  • Jordan Peterson Suspended on Twitter for "Hateful Conduct" In Comment About Elliot Page July 1, 2022 NY Post
  • Rushdie Will Move From Random House to Knopf for Next Novel, in 2023 (Update: The Bookseller Reported This Incorrectly) June 30, 2022 Bookseller
  • Macmillan Cyber Attack Gets National Coverage; Retailers Don't Mind, But It Still Hurts Authors and the Company June 30, 2022 WSJ
  • Wattpad Is Buying Exclusivity to Some of their Most Popular Authors and Stories with Stipends of Up to $25,000 June 30, 2022 Press Release
  • Supreme Court Declines to Review or Revise Landmark NYT v. Sullivan Libel Standard, Despite Clarence Thomas's Objection June 27, 2022 CNN
  • So Far, Books by Trump Aides Are Mostly...Losers June 23, 2022 Politico
  • Macmillan Nigeria Publisher Charged With Book Fraud June 21, 2022 The Herald
  • All The Exiting Agents Seem to Think ICM's Sale to CAA Will Get Approved Shortly by DOJ June 17, 2022 Deadline
  • Spotify Closes Findaway Acquisition: "Their technology will help propel Spotify into the rapidly growing audiobooks industry" June 17, 2022 Press Release
  • Australian Author John Hughes "Unintentionally" Plagiarized The Great Gatsby And Other Famous Works In His New Novel June 15, 2022 The Guardian
© 2022 Publishers Lunch. All Rights Reserved.