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Former Borders CFO Bierley To Take Same Job At Pantry

DOW JONES NEWSWIRES Former Borders Group Inc. (BGP) Chief Financial Officer Mark R. Bierley will take that post later this month at The Pantry Inc. (PTRY) as the Southeastern regional convenience store chain also announced it agreed to acquire 47 locations from Presto Convenience Stores LLC. Bierley will succeed Frank G. Paci, who plans to resign effective Sept. 26 to pursue other interests. Bierley, whose appointment is effective the next day, has been Borders' chief financial officer since January 2009 and added the chief operating officer role in June. Bierley resigned from Borders last week to "pursue another employment opportunity." The second-largest U.S. bookstore chain by revenue after Barnes & Noble Inc. (BKS) on Wednesday reported a wider fiscal second-quarter loss as customer traffic and sales continue their sharp decline. Paci will stay on at Pantry in a consulting role through year's end. A company spokesperson wasn't immediately available to comment. Meanwhile, Pantry is buying 44 stores in Kansas and three in Missouri, as well as the real estate underlying 36 of them. The deal will expand Pantry's footprint and add to earnings a year after closing, set for later this year. Pantry last month swung to a fiscal third-quarter profit as same-store sales rose 7.7% Pantry operates 1,639 stores in 11 states under brands such as Kangaroo Express. Its shares closed Wednesday at $19.60 and were inactive premarket. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Borders (BGP)
DateTimeHeadline
02/16/201109:14:36CORRECT: Borders Files For Chapter 11 Bankruptcy Protection
02/16/201107:59:47Borders Files For Chapter 11 Bankruptcy Protection
02/16/201107:53:02Borders Files For Bankruptcy Protection With $1.29 Billion Debt-Bloomberg
02/04/201118:38:33NYSE Warns Borders Stock Price Too Low For Continued Listing
01/30/201118:40:10Borders Again Delays Payments To Vendors, Also Skips Others
01/27/201118:38:48Borders Gets Potential $550 Million Of Financing From GE; Shares...
01/12/201117:18:53Borders To Shut Warehouse; Talks With Publishers On Tap -Report
01/04/201117:00:53MARKET SNAPSHOT: U.S. Stocks Get Boost From Fed Minutes
01/04/201115:42:13Agree Realty's Shares Hit The Skids As Borders Woes Deepen
01/04/201114:06:41MARKET SNAPSHOT: U.S. Stocks Pause In Run To Two-year Highs
12/31/201017:19:05MARKET SNAPSHOT: U.S. Stocks Extend Gains Into Second Year
12/31/201010:25:10MARKET SNAPSHOT: U.S. Stocks Set To End Strong Year With Minor...
12/09/201017:01:57Borders 3Q Loss Widens On Lower Sales, Margins; Stock Falls
12/06/201007:23:35Ackman Offers To Finance A Borders Buyout Of Barnes & Noble
10/08/201014:51:32How Ackman's Pershing Square Stalked J.C. Penney
09/30/201018:05:34Borders Shareholders Approve Share Issuance, Executive Proposal
09/29/201012:09:35Borders Delays Meeting On Share Issuance Until Thursday
09/28/201011:53:38Borders To Open 25 Seasonal 'Pop-Up' Stores In US Malls
09/02/201008:11:22Former Borders CFO Bierley To Take Same Job At Pantry
09/01/201010:14:19MARKET SNAPSHOT: U.S. Stocks Rally On Global Growth Hopes

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