• Skip to main content
  • Skip to primary sidebar
  • Login
  • Register
Publishers Lunch logo Publishers Lunch logo
  • Publishers Marketplace
  • Site Guide
  • Help
Login Sign Up
  • Personnel
  • AI
  • Compensation
  • Unions
  • Book Bans
  • New Releases
  • Earnings
  • The Trial
  • Archives
Publishers Lunch logo
  • Publishers Marketplace
  • Site Guide
  • Help
  • Publishers Marketplace
  • Site Guide
  • Help

June 16, 2011By Michael Cader

Borders Cancels Store Liquidation Auction; Says New Financing Amendment is Pending

June 16, 2011By Michael Cader

Borders’ warning that it might have to close dozens of some of its best store locations seems to have worked. On top of the 11 announced extensions of the deadline to accept or reject leases, the company filed a new motion late Wednesday with the court canceling the intended auction among liquidators that had been scheduled for June 16.

After “extensive negotiations,” the filing says they “believe [they] have reached an agreement in principle” with both their lenders and the unsecured creditors committee “regarding an amendment to the DIP facility which would alleviate the need to conduct” the store closing sales. Borders “hopes to finalize an agreement in the very near term,” subject to the court’s approval.

Separately, however, the Hartford Courant reports that Borders will close a Waldenbooks location in Trumbull, at an unspecified date.

Filed Under: Bookstores, Finance, Free

sidebar

Primary Free Sidebar

Login

Forgot Password Quick Pass User Login
Get Full Access
The Publishing Industry’s Essential Daily Read

Each Publishers Lunch Deluxe subscription includes full access to our searchable multi-year archive of industry news, a nightly email reporting 10 to 50 deal transactions, and our database of industry contacts, scripts, and posting privileges.

Learn More

RSS Automat

  • Authors Write An Open Letter to Publishers Against AI July 1, 2025 Lit Hub
  • Pearson and Google Partner on AI Tools June 27, 2025 Press Release
  • Author of "Life as We Knew It," Among 76 Books of "Complex Stories for Young Adults" Susan Beth Pfeffer Dies at 77 June 26, 2025 NYT
  • Why Man Not Read Fiction We Think Should? IDK -- Let's Ask A Tourist Bookstore June 26, 2025 NYT
  • Baseball Writer Scott Miller Dies at 62 June 24, 2025 NY Post
  • Accusations of Plagiarism, AI Use, and Bullying on BookTok June 23, 2025 NBC News
  • Larry Gagosian Visits His Store, BookHampton: "I just want the store to look more serious" June 23, 2025 Curbed
  • TikTok's 8th Note Press Is Shutting Down, Returning Rights to Authors June 21, 2025 NYT/Bookseller
  • Researchers Find That Newer Meta AI Models Have Memorized More of Popular Books Like Harry Potter June 20, 2025 Ars Technica
  • David Steinberger Interviews James Daunt on the Open Book Podcast June 20, 2025 Open Road
Publishers Marketplace logo

Contact Us

News

  • Publishers Marketplace
  • Report News
  • Discuss
  • Classifieds
  • Rights Offerings

Deals

  • Report A Deal

Books

  • Buzz Books

Jobs

  • Job Board
  • Privacy Policy Terms of Use