Books-A-Million will take over the leases of 14 Borders Group stores after the bankruptcy court judge approved the deal, the Wall Street Journal reported. Many of the stores are in states where Books-A-Million has no stores and marks a major expansion of the company from its Southern base into New England, the Northeast and the Upper Midwest.
The 14 stores are in Bangor, Me., Portland, Me., Concord, N.H., West Lebanon, N.H., Waterford, Conn., Mays Landing, N.J., Columbia, Md., Scranton, Pa., Canton, Ohio, Edwardsville, Ill., Traverse City, Mich., Davenport, Iowa, Eau Claire, Wis., and Rapid City, S.D.
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In other Books-A-Million news, Terrance Finley has been named president and chief operating officer, effective immediately. An employee of the company since 1992, he was most recently executive v-p, chief merchandising officer.
Chairman and chief executive officer Clyde Anderson has held the office of president and CEO since Sandra Cochran resigned in March 2009 to join Cracker Barrel Old Country Store. Anderson called Finley "an innovator and leader at BAM for over 20 years."
In another change at BAM, James F. Turner, formerly v-p, real estate, has been promoted to executive v-p, real estate and business development. He earlier worked in BAM's finance department and was the company's controller.