MISSOULA, Mont. (AP) — The University of Montana is finalizing negotiations with Barnes & Noble College for it to manage the campus bookstore.
Bookstore officials say the university and the company expect to reach an agreement by the end of June.
Bookstore chief operating officer Eamon Fahey says the university anticipates reaching a five-year contract with the company and expects to hand over the shop’s keys in July.
According to tax filings, the Missoula bookstore has racked up losses of nearly $1.8 million in the last four years.
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Officials have attributed the declining revenue to falling enrollment, dropping football game attendance and changing consumer trends.
Barnes & Noble College is a subsidiary of Barnes & Noble Education, which is separate from the publicly traded bookstore company.