Headlines

Borders Sale by End of July?

Retailer plans to name ‘stalking horse’ bidder

Published

13 years ago

June 20, 2011

VMSD Staff

Borders Group Inc. (Ann Arbor, Mich.) expects to name a “stalking horse,” or initial bidder, and sell itself through auction by the end of July, reports the Associated Press.

Borders amended a financing condition that required it to liquidate 40 of its 400 remaining stores if it had not reached lease-extension agreements with landlords.. The bookseller will liquidate the stores only if a sale does not happen by the end of July.

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