Liquidators Are Only Bid for Borders

July 18, 2011 · Posted in M&E Daily, Today's M&E Connections 

Borders Group is reportedly in last-ditch talks to save at least some of its 400 remaining bookstores from liquidation.

The company is in discussions with Birmingham, Ala.-based Books-A-Million, the Wall Street Journal reports, although the scope of the proposed deal with the regional bookstore chain is not known.

Private equity firm Najafi Companies, whose acquisition proposal drew creditor objections last week, “reluctantly” declined to bid on Borders by a July 17 deadline (via Bloomberg). With an auction for the company set for July 19, the only bid is reportedly from a group of liquidators led by Hilco Merchant Resources and Gordon Brothers Retail Partners.

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