Barnes and Noble to acquire Books Inc, saving 174-year-old store from bankruptcy
3 days ago
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- Books Inc., a 174-year-old local chain, is being sold to Barnes & Noble for $3.25 million.
- The sale, pending bankruptcy court approval, will allow Books Inc. to retain its name and branding.
- Books Inc. will maintain its seven neighborhood locations and two stores at San Francisco International Airport.
- Customers' loyalty points and gift cards will be honored under Barnes & Noble’s system.
- Books Inc. has survived historical events like the Civil War and the Great Depression but faced recent challenges from ecommerce and rising rents.
- Independent bookstores nationwide are struggling, though some, like Noe Valley Books, have found success through community efforts.
- CEO Andy Perham assured that Books Inc. will continue its legacy with Barnes & Noble’s support.