News Release - For Immediate Release
BREMERTON - Olympic College announces, today, Aug. 30, 2018, that is has entered into an agreement with Barnes & Nobel College Booksellers LLC to operate its bookstore operations. This agreement allows Olympic College to leverage Barnes & Nobel College Booksellers LLC, extensive brick and mortar, and online infrastructure to offer bookstore products and services at an incredible value and convenience for our students.
“We are thrilled to finalize an agreement with Barnes & Nobel College Booksellers, that provides the same level of services our students expect from the college,” said OC President Dr. Marty Cavalluzzi. “By partnering with Barnes & Nobel Booksellers, we benefit from numerous incentives, programs and profit sharing that only a company of this scale can offer.”
The contract includes a guaranteed payment of $350,000 to OC in the first year. Profit sharing guarantees in years two through five is 12% of all gross sales up to $3,000,000 or 13% of all gross sales over $3,000,000.
OC has established a transition plan that takes into consideration and plans for potential impacts to students, faculty and bookstore employees. Per the transition plan, the OC bookstore will continue to operate as normal until late October at which time the bookstore will close for one week before reopening under Barnes & Nobel College Bookstores.
The timing of the transition ensures impacts of the temporary closure are minimized as fall quarter classes will be well underway and students will have already bought books and supplies. Fall quarter begins Sept. 17.
The college has also established a transition plan for union-represented bookstore employees who are directly impacted by the change in operations. Affected employees may remain in their current positions during the transition period in addition to being offered open positions that are at or below their current permanent classification. Additionally, employees will be guaranteed interviews for higher classification, administrative, and faculty positions in which they qualify.
Barnes & Nobel College Booksellers LLC is the college arm of Barnes & Nobel and is not connected to the retail arm of the college.
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