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Judge OKs Borders Liquidation

Jul 22, 2011 | Reprints | Unlock Link | Print

Borders Group’s liquidation plan is set to proceed after receiving approval from a bankruptcy judge.

A judge Thursday approved the 40-year-old booksellers’ plan to appoint liquidators led by Hilco Merchant Resources and Gordon Brothers Group of Boston to sell off its assets. Going-out-of-business sales are set to begin at some stores today.

Borders, which has more than 900 stores nationwide, operated 23 stores in Massachusetts. DJM Realty has been retained to exclusively manage the disposition of all remaining Borders Group and Waldenbooks real estate in the country.

Borders filed for bankruptcy protection in February. It said earlier this week it planned to liquidate after a potential private equity bid fell through (AP)

Commercial & Industrial