bookstores
Borders Group Finds Its Rich Uncle
Financier Bennett LeBow will become Borders' chairman and biggest shareholder with his $25 million investment in the struggling bookseller. The deal needs shareholder approval, and it's likely to get the nod.
Books-A-Million Scoops Up Stake in Fro-Yo Chain
This is a wild time to be in the book biz -- change is coming fast, and everyone is struggling to adapt. But in its quest to evolve and survive, the country's third-largest bookstore chain is trying something completely offbeat: It's buying a stake in a tiny self-serve frozen yogurt chain.
Barnes & Noble's Executive Suite Gets Shuffled
CEO Steve Riggio is stepping down, though he'll remain vice chairman and stay "actively involved." Taking over as CEO is William Lynch, who has been leading B&N's e-commerce efforts. And Mitchell Kipper will become CEO of B&N's retail group.
Borders Delays Payment to Publishers
Days after reporting dismal holiday earnings, Borders Group is reportedly paying only some of the publishers it does business with, and the ones losing out are in the process of taking legal action.
Bookstore Holiday Sales Lag Behind Overall Retail Picture
With the holidays behind us, and customers redeeming their gift cards, big-box bookstores are taking stock of how they fared, compared with the overall positive holiday retail sales picture. Things were bad for Barnes & Noble big-box and Books-a-Million midsize stores.
Borders Spares 20 Waldenbooks Stores
After announced that it would close 200 of its 330 Waldenbooks stores by early January, Borders is changing its tune ever so slightly, and now plans to spare about 20 stores originally slated for the chopping block.
