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Frequent Contributor
claudia___anne
Posts: 118
Registered: ‎07-05-2011

Borders to close ALL stores.

‎07-18-2011 08:23 PM

"Borders will begin closing down its remaining stores as soon as Friday, and the liquidation is expected to run through September.

The development came as little surprise, ever since a committee of Borders' biggest unsecured creditors rejected the company's plan to sell itself to the Najafi Companies for $215.1 million. The committee had argued that the bid by Najafi, which also owns the Books-of-the-Month Club, could have allowed the investment firm to liquidate borders without letting creditors benefit."

http://finance.yahoo.com/news/Borders-Calls-Off-Auction-nytimes-1678947798.html?x=0

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