Jul 15 2011
Yesterday, The New York Times reported that embattled bookseller Borders is likely to face liquidation after a committee of its unsecured creditors rejected a buyout proposal from private equity firm Najafi Cos, on the basis that Najafi would be getting the assets too cheaply and was more than likely to liquidate them itself for a profit later.
Today, Publishers Weekly posted a list of remaining Borders stores saying "even in the best case scenario a large number of outlets will be closed. If the stalking horse $215.1 million offer by the liquidator group is accepted all outlets will be closed and inventory sold...by November 13.
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