Books-A-Million to Buy Leases of 14 Borders Stores for $934,000
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The leases of 14 Borders Group Inc. superstores and specialty stores will be acquired by Books-A- Million Inc. for $934,209, according to court documents.
Borders and Books-A-Million reached agreement for the lease sale, which includes a payment of $750,000 plus $184,209 in “cure” costs for landlords, according to the filing yesterday in U.S. Bankruptcy Court in Manhattan. The agreement has a condition that it must be approved by the bankruptcy court by Aug. 29, according to the filing. A deal for Books-A-Million to buy 30 Borders locations fell through last month.