In a significant development for Bay Area bibliophiles, the longstanding bookstore chain Books Inc. is set to continue operations under the wing of Barnes & Noble. According to an announcement from Books Inc., the sale comes as a strategic move to exit Chapter 11 bankruptcy, and the deal is pending Bankruptcy Court approval.
This acquisition is valued at $3.25 million, as reported by The SF Standard, and is designed to preserve the brand's cultural legacy while modernizing its operations. While the Berkeley location shuttered in February, the remaining seven neighborhood stores, as well as two airport outlets, remain intact. The agreement stipulates that Books Inc. will maintain its name, store locations, loyalty programs, and customer service initiatives, thereby retaining its identity within the local community.
Furthermore, the brand's CEO since 2019, Andy Perham, commented on the future of Books Inc., "This agreement will ensure that Books Inc.'s legacy will continue for the foreseeable future," he emphasized the value added by Barnes & Noble's resources. "With Barnes & Noble's deep resources and world-class support, Books Inc. will be able to quickly modernize its operations so we can focus on what we do best: connecting people with books, ideas, and each other," Perham told The SF Standard.
Despite financial strain leading to bankruptcy and store closures, the bolstering of Books Inc. comes at a hopeful juncture, as the chain marches toward its 175th anniversary, reaffirming its role in local literary circles. In the announcement posted by Books Inc., the company reassures customers that initiatives such as book clubs, author events, and community gatherings will continue to be an integral part of their operations. Additionally, Books Inc. gift cards and rewards points are to remain valid, with customers having the option to transfer their points into the new system.
"Books Inc. is not going away," Perham stated with conviction in a note addressing the bankruptcy on the company's social media, as echoed in a Hoodline report.
