Borders Goes Under

Mike Spector and Jeffrey A Trachtenberg, reporting for the WSJ:

Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids. It said it would ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.

The company said liquidation of its remaining 399 stores could start as soon as Friday, and it is expected to go out of business for good by the end of September.

My home has shelves and shelves of books purchased from Borders.

★ Monday, 18 July 2011