Borders’ seeks approval to liquidate

WSJ – “There will be no storybook ending for Borders. The 40-year-old book seller could start liquidating its 399 remaining stores as early as Friday. The Ann Arbor, Mich.-based chain, which helped pioneer the big-box bookseller concept, is seeking court approval to liquidate after it failed to receive any bids that would keep it in business. The move adds Borders to the list of retailers that have failed to adapt to changing consumers’ shopping habits and survive the economic downturn, including Circuit City Stores Inc., Blockbuster and Linens ‘N Things.”

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