After a brief postponement from Wednesday, the bankruptcy court approved Borders’ store reduction program and the chain has finalized agreements with liquidators. Going-out-of-business sales will begin on Saturday, February 19, which allows Borders to take advantage of President’s Day Weekend, and the company expects the 200 previously identified stores to close by the end of April. Hilco Merchant Resources, SB Capital Group, Tiger Capital Group and Gordon Brothers Group won the bidding to handle the liquidation sales, striking a deal that Bloomberg reports would guarantee almost 86 percent of the cost value of merchandise at the stores. Merchandise that Borders […]
