Let's replace a bookstore that wasn't doing well with another bookstore that's doing so-so. Only in the publishing industry, right?
"Monday was a big day for Books-A-Million. The retailer won court approval to take over the leases of 14 Borders locations and also named Terry Finley president, succeeding Clyde Anderson who will remain chairman and CEO.
Late last week, BAM agreed to pay $934,000 to assume the Borders leases--if it received quick court approval--and expects to take over control of all locations no later than October 1. The new stores move BAM into some new states, including New England.
BAM’s new president has been a longtime employee of the company, joining BAM in 1992. Finley, who also adds the chief operating officer title, had been executive v-p, chief merchandising officer."
Read more at Publishers Weekly
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