After it failed to cortege up creative suitors after talks with a inaccessible judiciousness investor floor apart last week, the assemblage will on Thursday ask for court blessing for a sale to liquidators Hilco and Gordon Brothers, it said Monday afternoon. The liquidation of the company's unused 399 stores could blench on Friday, said Borders, which has 10,700 employees. The liquidation procedure is expected to be completed by the end of September. It had bankruptcy in February.
"Following the best efforts of all parties, we are saddened by this development," said Borders president Mike Edwards. "We were all working earnestly supporting a unheard-of outcome, but the headwinds we have been skin for unequivocally some time, including the in a jiffy changing enlist industry, eReader revolution, and turbulent economy, have brought us to where we are now."
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