One of Fairfields largest employers, Books are Fun, is being sold back to it founder and moved to Boulder, CO.
Everyone laid off.
I like the quote "This agreement is in the best interest of Books Are Fun's customers..."
Who are their customers? Anyone that walks into one of their temporary sales displays in lobbys and malls.
Started in 1990 on shoestring, sold to Readers Digest for $390 Mil in 1999. Bought back from RD for $17.5 Mil in 2008
Links:
- Selling to 'Books Are Fun' by Linda Matthie-Jacobs
- Books Are Fun assets sold for $17.5 million to Kaplans by Vicki Tillis
- Imagine Nation Books
- Current incarnation as Collective Goods
Update December 2016 replaced dead link with exciting new links.
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