borders group

Borders Discloses Offer For Inventory & Leases for Approximately 30 Stores

07/18/11

Follow @Chapter11Cases In its court filing this afternoon formally announcing the cancellation of tomorrow’s auction, Borders Group, Inc. disclosed that it “received a bid from a non-insider to purchase the inventory, furniture, fixtures, equipment and leases for approximately thirty (30) stores.”  Multiple news organizations have reported that Borders was in discussions yesterday with Books-A-Million (BAMM) on a [...]

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Borders Group (BGPIQ) Appears to Give Up Hope of Going Concern Sale

07/18/11

Follow @Chapter11Cases Borders Group, Inc. (BGPIQ.PK) announced this afternoon that “it did not require” the auction which was scheduled for tomorrow afternoon because it did not receive a “formal proposal from a going concern bidder.”  The company had received a stalking horse bid from Direct Brands, a portfolio company of Najafi Companies, which offered hope [...]

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Borders Group Posts $35.4 Million Net Loss for May

06/22/11

Borders Group, Inc. and its affiliated debtors filed their monthly operating report for May (1-28) yesterday with the bankruptcy court in New York.  Borders, which filed for bankruptcy protection in February, is seeking buyers for its assets, with the expectation that the companies’ future will be decided in the next few weeks. Among the highlights [...]

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