Borders Group Inc (BGPIQ.PK) has entered talks to sell a small number of stores to retailer Books-A-Million Inc (BAMM.O) while hundreds of its other locations could be liquidated, according to two sources close to Borders' bankruptcy process. Books-A-Million expressed interest in less than 50 of the book-seller's stores, said the sources, who asked to remain anonymous because Borders' sale process is private. It is unclear if Books-A-Million has made an official bid or if the talks will ultimately lead to a deal, the sources said. Borders was set to be sold to a group of liquidators led by Hilco Merchant Resources if no company offered a bid to purchase its business by a Sunday deadline. No party offered a bid for the full chain, meaning the bulk of Borders' business is still likely headed for liquidation, the sources said.
Books-A-Million, Inc. is a book retailer in the south-eastern United States. Shares of BAMM traded higher by 1.21% or $0.0371/share to $3.10. In the past year, the shares have traded as low as $3.00 and as high as $7.07. On average, 77639 shares of BAMM exchange hands on a given day and today's volume is recorded at 28110.
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