Friday, March 23, 2001

U of L files suit against bookstore




The Associated Press

        LEXINGTON — The University of Louisville filed a motion in U.S. Bankruptcy Court in Lexington to order the bookstore owned by former Gov. Wallace Wilkinson to decide whether it can supply textbooks to their bookstore.

        UofL officials asked the court Wednesday to order Wallace's Bookstore to decide by April 3 whether it has nearly $1.5 million to operate through the summer and into the fall semester.

        The university said it will “suffer irreparable damages” if the company delays its decision. Officials said Wallace's must begin buying textbooks soon because spring semester is nearly over.

        A Wallace's spokesman could not be reached for comment.

        Wallace's, a Lexington company, filed for Chapter 11 bankruptcy reorganization Feb. 28. The company and its sister business, Wallace's Book Co., said they owed at least $52.2 million.

        Wallace's operates 60 bookstores at colleges around the country, including UofL, the University of Kentucky, Eastern Kentucky University and Transylvania University.

        UK and Transylvania are seeking proposals from other bookstore operators, and Eastern is weighing its options, officials said.

        In its motion, UofL said Wallace's has not indicated since its bankruptcy filing whether it will continue operating the UofL store. A hearing is scheduled May 29.

       



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