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Borders to Seek Approval of Deal With Books-A-Million

Borders Group Inc. won court approval to liquidate its remaining 399 stores starting tomorrow, even as the book retailer negotiates with creditors on a last-minute bid for some sites from Books-A-Million Inc.

U.S. Bankruptcy Judge Martin Glenn in Manhattan today approved Borders’ request to wind down the 40-year-old bookstore chain, once the second-largest in the U.S. Borders, with about 10,700 employees, said this week that it planned to close all of its stores in phases by September.