Thursday, July 14, 2011

Borders on Brink of Liquidation

Borders designated a group of liquidators as the opening bidders in a looming bankruptcy-court auction amid difficulties getting publishers to relax terms under which they ship merchandise to the U.S.'s second-largest bookstore chain, said people familiar with the matter, reports WSJ.

The development raises the prospect that Borders will soon close all its remaining 399 stores and go out of business. No other suitors have so far emerged for Borders ahead of a Sunday bidding deadline.

1 comment:

  1. so you're not recommending buying stock in it then.