News: Books-A-Million, Inc. to Purchase Inventory of 19 Stores from Crown Books Corporation

Books-A-Million, Inc. to Purchase Inventory of 19 Stores from Crown Books Corporation

BIRMINGHAM, Ala. (March 6, 2001) Books-A-Million, Inc. (Nasdaq/NM:BAMM) has reached an agreement to acquire the inventory of 19 retail bookstores from Crown Books Corporation, a debtor-in-possession in a Chapter 11 bankruptcy case pending in Delaware. Subject to Bankruptcy Court approval, Books-A-Million will also assume the leases on the 19 stores, which are located in the Washington, DC and Chicago metropolitan areas.

Books-A-Million is one of the nation's leading book retailers and sells on the Internet at www.booksamillion.com. The company presently operates 185 stores in 17 states. The Company operates four distinct store formats, including large superstores operating under the names Books-A-Million and Books & Co., traditional bookstores and combination book and greeting card stores, both operating under the name Bookland, and Joe Muggs Newsstands.

Contact:

Richard S. Wallington
Chief Financial Officer
(205) 942-3737

Back to Recent News