Books-A-Million Won't Buy 30 Borders Stores

BIRMINGHAM, Alabama ( TheStreet) -- Books-A-Million ( BAMM) said efforts to buy 30 Borders stores ended unsuccessfully because the parties couldn't agree on terms of a deal.

"We worked exhaustively in an effort to acquire these stores and reach agreements with all of the parties whose consent was necessary. Unfortunately, we were unsuccessful," said Books-A-Million Chairman and CEO Clyde Anderson in a statement.

Books-A-Million last week submitted a bid for the leases and assets of the 30 Borders stores.

Borders, the bankrupt bookseller, began liquidating last Friday after it received no buyout offers by a deadline.

-- Written by Joseph Woelfel

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