Deals
Borders Wins Approval to Liquidate 200 Stores
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Borders Group Inc., the second-biggest U.S. bookstore chain, won bankruptcy court approval to liquidate 200 stores in a deal that may bring in $175 million to creditors.
U.S. Bankruptcy Judge Arthur Gonzalez in Manhattan today approved the closings of about 30 percent of Borders’ stores after a group of liquidators made the highest bid for rights to sell merchandise and furniture. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday in the U.S.