Ort, associate provost and director of scholarships and student aid and a member of the Student Stores RFP Advisory Committee. “Ensuring an affordable education for our students is a proud part of Carolina’s past and a cornerstone of our future,” said Shirley A. ![]() After the University covers operating expenses, existing debt service of $800,000 annually and other support costs, the Student Stores expects to net out between $1.75 and $2 million, which will be contributed to need-based scholarships annually, quadrupling its recent contribution. Barnes & Noble College forecasts an annual payment to the University of more than $3 million, with a guaranteed minimum payment of $3 million annually for the first two years. Net proceeds from UNC Student Stores sales will continue to support need-based scholarships. Staff members retained by UNC-Chapel Hill will be offered positions with comparable duties in other areas of the University. Full-time staff who transition to new management and are within 18 months of their five-year state service mark or three years of their 30-year state service mark will remain on the UNC-Chapel Hill payroll until they meet those milestones. ![]() “We thank everyone at Student Stores for their service and commitment to the campus community and for their patience during our diligence process.”Įmployees transitioning under Barnes & Noble College management are guaranteed employment for three years. “Guaranteeing continued employment for existing staff, preserving the beloved qualities of Student Stores and significantly increasing the funds toward need-based scholarships are key elements of this partnership with Barnes & Noble College,” said Brad Ives, associate vice chancellor for campus enterprises. All 48 full-time staff members will maintain employment at their current salary either under Barnes & Noble College management or by remaining with UNC-Chapel Hill. As part of a 10-year, $30 million agreement, all operations will transition on July 1, 2016, with the exception of the print shop and pharmacy, which the University will continue to operate. The University of North Carolina at Chapel Hill has selected Barnes & Noble College Booksellers, a Barnes & Noble Education company (NYSE:BNED), to operate its UNC Student Stores.
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