Though the myriad of objections filed by landlords by Monday afternoon’s deadline over Borders’ prospective sale to Najafi was par for the course, Borders filed their own response motion in bankruptcy court late Tuesday. In it they say the accelerated sale process owes to GE Capital’s stipulation under the amended financing agreement that the company must find a buyer by July 29 – and have the sale approved by July 22 — lest they default. “The sale simply cannot take place in the timeframe required if there are any further delays in the schedule,” Borders stated. “If the sale does […]
