Hold the presses: Borders Gets Approval to Liquidate Stores, Seeks Deal With Books-A-Million
Excerpts: Borders Group Inc. won court approval to liquidate its remaining 399 stores starting tomorrow, even as the book retailer negotiates with creditors on a last-minute bid for some sites from Books-A-Million Inc. (BAMM) U.S. Bankruptcy Judge Martin Glenn in Manhattan today approved BordersÂ’ request to wind down the 40-year-old bookstore chain, once the second-largest in the U.S. Borders, with about 10,700 employees, said this week that it planned to close all of its stores in phases by September. The deal with liquidators was approved over the objections of 99 landlords and creditors, following an offer this morning from Books-A-Million for as many as 35 stores that has yet to be documented or approved by a committee of creditors. Read more here: http://www.bloomberg.com/news/2011-07-21/borders-to-seek-approval-of-deal-to-sell-30-stores-to-books-a-million.html?cmpid=yhoo J - Liberalism, austere in political trifles, has learned ever more artfully to unite a constant protest against the government with a constant submission to it. - Alexander Herzen ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340727 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
