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Borders Cancels Auction, May Reduce Store Closures

16 Jun, 2011 By: Chris Tribbey


Bankrupt retailer Borders Group canceled an auction of unsold merchandise and may have reached an agreement with lenders and creditors to salvage approximately 40 stores that previously had been on the chopping block, according to documents filed in U.S. bankruptcy court.

“The debtors are continuing to negotiate with landlords to further reduce the closing stores list and will file periodic additional updates,” a filing reads.

Borders has closed more than 200 of its locations since filing for bankruptcy in February, leaving it with more than 400 locations.
 

Related Links :

Judge Approves Borders Bankruptcy Loan

Report: Borders Aims for Summer Exit from Bankruptcy

New York Stock Exchange to Delist Borders

Borders Files for Bankruptcy


About the Author: Chris Tribbey


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