Books Inc., which bills itself as the oldest bookseller in the West, is heading into new hands. The 174-year-old California-based chain filed a motion in bankruptcy court to sell its assets to an affiliate of Barnes & Noble (BI Acquisition Co., LLC) for $3.25 million.
The deal, if approved this fall, would keep the Books Inc. name alive. Currently, nine stores remain — down from 11 earlier this year and far fewer than the company’s peak decades ago. Customers with gift cards won’t lose their balances, and loyalty points are set to transfer to Barnes & Noble once the sale is complete.
“This agreement will ensure that Books Inc.’s legacy will continue for the foreseeable future,” CEO Andy Perham said in a statement, adding that the larger company’s resources would allow the chain to modernize while focusing on connecting readers with books.
Books Inc. has been through this before. It went bankrupt in 1995 after blaming national chains, including Barnes & Noble, for flooding the West Coast. This time, it was rising overhead and changing shopping patterns—a trend accelerated by the pandemic — that pushed the company to file for Chapter 11 in January. Now, the one-time rival is positioned as a rescuer.
Barnes & Noble has been on a buying streak. Last year, it picked up Colorado’s Tattered Cover after that chain went bankrupt. At the same time, it has been opening dozens of new stores — 57 in 2024 and another 60 planned for 2025 — after years of closing locations.
The company itself was acquired in 2019 by hedge fund Elliott Management, which also owns Waterstones in the U.K. Since then, Barnes & Noble has quietly shifted from retreat to expansion, adding back stores and picking up independent chains that might not have survived otherwise.
Sources: Barnes & Noble, Retail Dive