Borders stores could change hands
After previously backing out of a similar deal, Alabama-based Books-A-Million has reached a deal to take over 14 Borders stores, including those in Bangor and South Portland.
Days after Borders announced in July the closure of its 399 stores and liquidation of its assets, Books-A-Million said it might buy 30 of its locations, but the deal fell through over disagreement on terms. Now, the bookseller is hoping the U.S. Bankruptcy Court on Aug. 29 will approve its deal to take over the leases of 14 Borders stores for about $934,000, the Bangor Daily News reported. Besides the two stores in Maine, the deal includes locations in New Hampshire, Connecticut, Maryland, Ohio and New Jersey. The Bangor and South Portland stores are still open, and Borders also has a Brunswick store and operates a Waldenbooks in Auburn. Books-A-Million has 231 stores in 23 states and Washington, D.C.
Portland-based entertainment retailer Bull Moose last month said it was planning to bid on several Borders locations in New England, but did not specify which stores.
Most Recent
Most Recent
Comments