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

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 [...]