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Borders may have a savior in the wings

By SIDDHARTH CAVALE and THYAGARAJU ADINARAYAN
May 14, 2011

(REUTERS/Mike Blake)

Bankrupt bookseller Borders Group Inc (BGPIQ.PK) said it has received indications of third-party interest for its business that could keep it running as a going concern, a source close to the matter told Reuters.

The source declined to provide further details.

Borders Group Inc, after years of shriveling sales and carrying a heavy debt load, filed for bankruptcy in February and has been soliciting offers for a sale of the company ever since.

The Wall Street Journal, citing people familiar with the matter, on Friday said a possible bidder expressed interest in more than 225 of the bookseller’s remaining superstores. No bidder has expressed interest in purchasing all of its outlets, which total about 400, the paper said.

Bloomberg reported that larger rival Barnes & Noble Inc (BKS.N) offered to buy about 10 stores, while other parties have also bid for parts of the business.

Copyright © 2011 Reuters

2 Responses to Borders may have a savior in the wings

  1. b mcclellan

    May 27, 2011 at 2:12 am

    At the risk of opine
    how many libraries forced to backdoor divulge are there now ?

    Books make people read.

  2. bogofree

    May 27, 2011 at 7:21 am

    Borders (and evil twin B&N) was nothing more than a Big Box store whose primary focus was books. Some managed to put in a faux coffee shop/desert area to help give the feel of a real neighborhood bookstore and all that showed me was lousy coffee and deserts bought from SYSCO. Give me Powell’s any day.