Wednesday, May 23, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Borders Group sets dates for selling itself

NEW YORK — Borders Group Inc. hopes to name a bidder by July 1 and sell itself by the end of that month, according to bankruptcy court filings. Forty stores previously targeted for closing are also getting a temporary reprieve.

The bookseller, which filed for bankruptcy protection in February, said in court papers it plans to name a “stalking horse” bidder by July 1. A “stalking horse” is an initial bidder for a company in a bankruptcy auction. A higher bidder may materialize.

The company said an auction is likely on July 19, with a sale hearing on July 22 and sale closing on July 29.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…