Books-A-Million Drops Bid To Buy 30 Borders Stores

Law360, New York (July 26, 2011, 12:21 PM EDT) -- Books-A-Million Inc. announced Monday that its negotiations to buy the leases and assets of 30 Borders Group Inc. stores had fallen through, saying it could not agree on terms with the bankrupt bookseller.

Borders, which filed for bankruptcy protection in February and had hoped to restructure, received bankruptcy court approval last week to liquidate its 399 stores. At the time, the chain announced a tentative deal to sell 30 store leases and inventory, which could have saved more than 1,000 jobs, according to Borders' attorney Andrew...
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