What Does Future Hold For Borders?

ANN ARBOR (WWJ) - What's the future of Ann Arbor-based Borders Books? The answer to that question may be known within the next few days.

Borders Group is inching closer to liquidation after a bidding deadline passed without offers that would keep the chain in business. That's according to people familiar with the matter.

Jim Bleikamp of the Wall Street Journal is reporting that a bankruptcy court auction is set for Tuesday, but Borders is likely to entertain offers right up until the scheduled auction in hopes that a white knight will emerge to save the chain.