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Entries in Bookstore (3)

Saturday
Jan282012

Barnes and Noble Negotiates Deal to Sell Nook Devices Abroad 

(NEW YORK) -- The country’s largest bookstore chain may soon offer its Nook digital services abroad.

Bloomberg News reports that Barnes & Noble Inc. is negotiating a deal to sell its Nook devices in stores outside the United States for the first time, according to a source close to the company.

The book superstore is working to develop a partnership with the United Kingdom’s Waterstones Booksellers Ltd., where it plans to launch its Nook tablet in 2012.

Waterstones is the largest bookstore chain in the U.K. with nearly 300 stores.

Copyright 2012 ABC News Radio

Thursday
Jul212011

Borders Liquidation to Begin Friday

Borders dot com(NEW YORK) -- Borders Group President Mike Edwards is calling it the "end of an era." After four decades in the book-selling business, Borders Group is selling off its assets.  

On Thursday, a New York judge approved the liquidation of the book and music retailer.  

"Hopefully the Books-A-Million transaction will at least help in maintaining some employees with continuing jobs," U.S. Bankruptcy Court Judge Martin Glenn said Thursday, according to The Wall Street Journal.

Books-A-Million is expected, according to a proposed deal, to buy 30 to 35 stores from the liquidation and take over the leases on those stores and hopefully preserve at least 1,000 jobs, WSJ reports.

The book retail chain was once the second-largest in the U.S., with 1,200 stores and over 10,000 employees at its peak.

Liquidation of 399 of its stores begins Friday.

Copyright 2011 ABC News Radio

Tuesday
Jul192011

Borders to Close All of Its Remaining Bookstores

Tom Pennington/Getty Images(ANN ARBOR, Mich.) -- The Borders bookstore chain, which has been struggling financially for several years, announced Monday that it will be closing for good, shutting down all of its remaining 399 stores.

The company filed for Chapter 11 bankruptcy protection in February and shuttered dozens of outlets in an attempt to survive, but had no choice but to close up shop when a bid from a private equity group fell apart last week and no other bidders came forward.

Borders Group President Mike Edwards issued a statement saying, “We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time including the rapidly changing book industry, e-reader revolution and turbulent economy have brought us to where we are now.”

The company was started as a used bookstore in 1971 by brothers Louis and Tom Borders in Ann Arbor, Michigan, where the company maintains its flagship store.  At its peak in 2003, Borders operated over 1,200 stores nationwide.

The company says liquidation sales at Borders stores could begin as early as Friday, including at Waldenbooks stores, also owned by Borders.

Copyright 2011 ABC News Radio







ABC News Radio