Jacket Copy

Books, authors and all things bookish

« Previous Post | Jacket Copy Home | Next Post »

Has there been a bid for Borders?

May 11, 2011 |  9:33 am

Borders_liquidation

A routine Borders bankruptcy hearing ended abruptly Wednesday in New York, and there is speculation that a bid or bids have been made to purchase the company.

Publishers Weekly reported:

Today's [Borders] hearing was a rather routine affair until lawyers for both sides approached the bench after Judge Martin Glenn asked for an update on where things stood. After returning from a brief meeting out of earshot from those listening on the phone, the judge adjourned the hearing. Speculation is that the attorneys were updating the judge on whether any bids for the company were made on Friday. Sources told PW that at least one bid was in fact made.

Since filing for Chapter 11 bankruptcy on Feb. 16, Borders has been liquidating stock and has closed hundreds of its retail bookstores across the country.

RELATED:

Borders files for Chapter 11 bankruptcy

What's going on with Borders?

Westwood's Borders takes a bow

Borders moves toward financing, but doesn't rule out bankruptcy

-- Carolyn Kellogg

Photo: A Borders slated for closure in February. Credit: Paul Sakuma / Associated Press

Comments 

Advertisement










Video