Books-A-Million in last-minute Borders bid

Books-A-Million has bid for up to 35 US Borders stores in a last-minute offer to try and save part of the 40-year-old bookseller.

The chain, which also runs stores under the names Books & Co, Bookland and Joe Muggs Newsstands, offered to buy 21 Borders superstores and nine smaller ones which could save between 1,000-1,500 jobs, Bloomberg reports. It also has an option on an additional five stores.

The news was revealed as Borders Group Inc won court approval to liquidate its remaining 399 stores starting tomorrow (Saturday 23rd July), threatening to leave 10,700 unemployed.

US bankruptcy judge Judge Martin Glenn said: “Hopefully, the Books-A-Million transaction will at least help some employees with jobs.”

He added: “This is a bittersweet day. There are a lot of sad people around the country, a lot of sad people in the corporate headquarters. But there has been a late-breaking development.”