Borders For Sale
After filing for bankruptcy and closing more than 200 stores, Borders is now considering selling at least some of its holdings.
Although Barnes and Noble would not confirm its interest, Bloomberg News reports the company put in a bid for 10 Borders stores, the website, and customer lists. According to The Wall Street Journal, another undisclosed bidder is interested in purchasing at least 190 stores. No bidder, so far, is seeking all of the holdings.
With publishers no longer allowing Borders to purchase on credit, the company faces a challenge as it tries to reorganize. Court documents indicate a debt of $182 million to the six largest publishers, who Borders continues to negotiate with in bankruptcy proceedings, says the Associated Press.