Borders buys 14 Borders leases for $934,209. Some of the locations include, ME, OH, NH, and NJ.
Bloomberg Article
Books-A-Million has agreed to acquire 14 Borders leases for a total of $934,259, provided that a deal can be concluded by August 30. In a motion filed with the bankruptcy court, BAM said that “time is of the essence,” stipulating that the deal must be approved the court by August 29 with the transaction closing by August 30. To meet that deadline, Borders and BAM have asked for a hearing on Monday to approve the agreement. If the deal is approved, BAM will broaden its national footprint, opening its first stores in New England and as far west and north as South Dakota and Wisconsin.
The 14 stores range from 20,000 sq. ft. to 30,000 sq. ft. and move BAM into seven new states: Maine, New Hampshire, Connecticut, Wisconsin, Iowa, South Dakota and Michigan.