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On thursday morning Borders will ask the courts for permission to enter final liquidation of the remaining 399 stores in the chain.
From Reuters:
Goodnight old friend.
Myriads
From Reuters:
Borders Group Inc, the second-largest U.S. bookstore chain, said it has canceled an upcoming bankruptcy auction and will close its doors for good.
The company said in a statement Monday it was unable to find a buyer willing to keep it in operation and will sell itself to a group of liquidators led by Hilco Merchant Resources.
Borders' roughly 400 remaining stores will close, and nearly 11,000 jobs will be lost, according to the company.
"We are saddened by this development," Borders President Mike Edwards said in the statement. "We were all working hard toward a different outcome, but the headwinds we have been facing for quite some time ... have brought us to where we are now."
Goodnight old friend.
Myriads