Though Hurricane Irene largely spared the New York City area, many places further north have proven to be far less fortunate. In Vermont, which is suffering from some of the worst flooding in the state’s history, Bartelby’s Books was “ruined” by the flooding, owner Lisa Sullivan told Shelf Awareness in an email. The building was flooded but is still standing, and Sullivan said, pending help from FEMA and removing books and other items from the store, “We plan to rebuild as soon as possible.” Sullivan also owns the Book Cellar in Brattleboro, which closed indefinitely after a fire in its […]
Chorion Reportedly Close to Bankruptcy After Two Key Executives Resign
Literary brand management company Chorion, which controls the rights to the estates of Agatha Christie, Raymond Chandler and other notable crime writers, along with UK children’s properties like Noddy and Mr. Men, may be forced into administration by its lenders after failing to raise funds, according to a report in the Sunday Times. Though the paper indicated that Deloitte has been retained to oversee a potential bankruptcy “as soon as this week,” the Telegraph quotes a “source close to one of the banks” as indicating that several options were being considered. “Administration is not something we are about to push the […]
CIA Demands Extensive Cuts To Former FBI Agent’s 9/11 Book
Former FBI agent Ali H. Soufan’s THE BLACK BANNERS: The Inside Story of 9/11 and the War Against Al Qaeda is scheduled to be published on September 12 by Norton, but the version that will hit the market will be heavily redacted thanks to a number of objections from the CIA. According to the NYT, Soufan’s memoir, written with Daniel Freedman, argues “that the CIA missed a chance to derail the 2001 plot by withholding from the F.B.I. information about two future 9/11 hijackers living in San Diego,” and also offers a firsthand account of the agency’s move towards brutal […]
Bookselling: New Stores in Colorado and Montana; Waterstone’s Will Leave Harrods; and More
New and used bookstore The Written Word will open in Brush, CO on Saturday. Owner Marlene Gippin says the store will offer books at $20 or less – “I’m not making things expensive; I think books should be inexpensive” — as well as free wi-fi and coffee, a children’s area, and a room for local artists to display their pieces. Fort Morgan Times Whitefish Bookstore will open a second location in downtown Kalispell, MO, by October 1. The news comes as the town’s Borders store is in the final stages of shutting down. KAJ18.com Waterstone’s will close its concession stand […]
Bookselling: Nebraska Book Company Gets Bankruptcy Plan OK; Easons Plans Layoffs and Store Closings; and More
A Delaware bankruptcy court granted approval to the Nebraska Book Company to seek votes from creditors on its reorganization plan, which would give control of the company to holders of more than 95 percent of its 8.625 percent senior subordinated notes and more than 75 percent of its 11 percent discount notes, the Lincoln Journal-Star reports. Secured lenders and noteholders would be paid in full with cash, and so long as equity holders don’t object to the plan, “they would get warrants to purchase 3 percent of the reorganized company’s equity at an enterprise value of $500 million, and 5 […]
BAMM Now Set to Buy 14 Borders Store Leases
Books-A-Million’s original plans to buy as many as 35 stores from Borders fell through in July, but now the two retailers are trying again – albeit for a smaller number of stores this time. Documents filed in federal bankruptcy court late Wednesday indicate that BAMM has reached a deal for $934,209 to buy 14 superstores and small format stores from Borders, as well as assume responsibility for the leases. That amount comprises $184,209 to pay for cure costs to the landlords (which BAMM would pay upon the deal closing) and $750,000 for the stores and lease agreements themselves. The deal […]