Borders wins approval to liquidate 200 stores
New York -- Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.
Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.
The stores to be shuttered operate under the Borders, Waldenbooks, Borders Express and Borders Outlet names, according to a court filing.