FAIRLESS HILLS, Pa. -- Borders Group, Inc. failed to get a "going concern" bidder for its assets as of the July 17 bid deadline and thus, has decided to move forward with a liquidation of its remaining 399 stores.
The store closing sales is expected to begin on July 22, and will be handled by a group of liquidators which include Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC.
Details of the latest developments in the Borders case is available in BORDERS GROUP BANKRUPTCY NEWS, Issue No. 24, published by Bankruptcy Creditors' Service, Inc.
The 8-page newsletter contains stories with these headlines:
 BORDERS TO LIQUIDATE 399 STORES, CANCELS JULY 19 AUCTION
 LIQUIDATION OF BORDERS STORES EXPECTED TO BEGIN JULY 22
 DEBTORS' MOTION TO ASSUME AMENDED SOURCE INTERLINK PACT
 DEBTORS' 1ST TO 4TH OMNIBUS OBJECTIONS TO CLAIMS
 DEBTORS' APPLICATION TO EMPLOY DJM REALTY AS REALTOR
 DEBTORS' APPLICATION TO EMPLOY MORTAGE CORP. AS BROKER
 DJM REALTY TO DISPOSE OF 259 BORDERS REAL ESTATE LEASES
A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.
BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).
How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS
BORDERS GROUP BANKRUPTCY NEWS is distributed to paying subscribers by electronic mail. New issues are published on an ad hoc basis as significant activity occurs (generally every 10 to 20 days) in the Debtors' cases. The subscription rate is $45 per issue. Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax. Distribution to multiple individuals at the same firm is provided at no additional charge; folks outside of your firm should set-up and pay for their own subscriptions. Subscriptions may be canceled at any time without further obligation.
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