Books-A-Million Pulls Offer for 30 Borders Stores
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.
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