Books-A-Million Granted 14 Borders Leases

By RetailFOXBusiness

A bankruptcy judge has ruled that the leases on 14 Borders stores can be transferred to Books-A-Million ( NASDAQ:BAMM).

Borders is liquidating all of its assets after filing for bankruptcy earlier this year.

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The Wall Street Journal reported that Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan approved the lease transfers after Borders settled some disagreements prior to a hearing.

Books-A-Million has been negotiating with Borders to take over a handful of the bankrupt retail chains locations, including some of Borders superstores.

Birmingham, Ala.,-based Books-A-Millions shares rose 8 cents or 3.2% to $2.58 in morning trading.

Borders, which relied heavily on its bricks and mortars retail outlets, filed for Chapter 11 bankruptcy protection in February facing increasing competition from online book sellers and sales of e-books.

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