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AMS plans to sell off business to a rival.
Byline: David Washburn
Feb. 13--Scandal-ridden and bankrupt Advanced Marketing Services announced its intent yesterday to sell the majority of its book distribution business to a competitor and could close by March.
AMS, which has been operating in San Diego for 25 years, has a tentative agreement to sell almost all of its assets to North Carolina-based Baker & Taylor, the world's largest book distributor.
The deal could close as early as March 15 if no other bidders emerge and if the Delaware bankruptcy court approves the sale, Advanced Marketing said in a news release. The company employs 164 in San Diego and 1,200 worldwide.
"We are pleased to enter into this letter of intent with Baker & Taylor and believe it …
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