In federal bankruptcy court Wednesday morning, Judge Martin Glenn agreed to extend the exclusive time period in which Borders can come up with a plan for emerging from Chapter 11 bankruptcy or selling the company’s assets. As previously reported, Borders would have run up against a June 16 deadline to file a plan under an exclusivity period, which has now been extended to October 14, with time to solicit votes on such a plan pushed back to December 13. Borders representative Andrew K. Glenn explained in court that a sale is now the focus of their efforts rather than reorganization, […]
