University Bookstore to Buy Fact & Fiction

Fact & Fiction, the 21-year-old Missoula, Montana, institution, is being bought by The Bookstore at the University of Montana, a not-for-profit corporation guided by a board of directors composed of faculty and students. Barbara Theroux, Fact & Fiction's owner, said the sale was expected to be finalized today, Thursday, November 8.

The UMT Bookstore's plans include retaining the Fact & Fiction name and its current location as well as opening additional Fact & Fiction locations.

As part of the deal, Theroux will remain at the original store for two more years, with a monthly paycheck plus full benefits.

"It is exciting," said Theroux. "What else can you ask for? I sold the business, kept my job, and will be able to work through this developing concept [of Fact & Fiction as a brand]."

UMT Bookstore General Manager Bryan Thornton has discussed plans to turn the University Trade Book Department into a second Fact & Fiction location, and he hopes to open a third Fact & Fiction in a new 14,819-square-foot building that is scheduled for construction this spring in Russell Square, a residential area. The new location will feature an events space and a coffee shop, explained Theroux.

The idea of a merger was first broached in July when Thornton invited Theroux to lunch. "I told him it'd be a shame to lose the brand, and he said, "No, listen to me, I want to keep the name.'" Ironically, she added, prior to opening Fact & Fiction, she worked at the University bookstore for seven years. Now it's all come full circle. "So I'm being rehired by the same place I used to work for."

The deal between UMT Bookstore and Fact & Fiction will be completed over a three-year period, with the first payment being made this Thursday. Theroux did not disclose monetary terms of the sale.

Everyone currently employed by Fact & Fiction will keep his or her jobs, said Theroux. And no changes in procedure are scheduled until February. --David Grogan