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Books-A-Million Seeks to Acquire 14 Borders Stores

posted on 2011-08-26 05:22 EDT

The retail chain Books-A-Million (BAM) has agreed to acquire the leases to 14 Borders store for a total of US$934,259, provided that the deal is approved by the court by August 29 and the transaction closed by August 30. Borders and BAM have asked for a hearing on Monday, tentatively set for 3:00 p.m., to approve the agreement. Borders announced its closure in July.

If the deal goes through, it would let BAM open its first stores in seven new states: Maine, New Hampshire, Connecticut, Wisconsin, Iowa, South Dakota, and Michigan. BAM would take over the stores after the completion of Borders' going-out-of business sales or October 1, whichever is later.

The deal would cover the following stores:

  • Columbia Crossing, Columbia, MD
  • Bangor Mall, Bangor, ME
  • Maine Mall, South Portland, ME
  • The Strip, Canton, OH
  • Oak Point Plaza, Eau Claire, WI
  • Grand Traverse Crossing, Traverse City, MI
  • Wrangleboro Road, Mays Landing, NJ
  • Northridge Shopping Center, Davenport, IA
  • Edwardsville Crossing, Edwardsville, IL
  • Fort Eddy Plaza, Concord, NH
  • Haines Avenue, Rapid City, SD
  • Valley Square Center, West Lebanon, NH
  • Viewmont Mall, Scranton, PA
  • Waterford Commons, Waterford, CT

Source: Publishers Weekly


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