Creditors have their hands out as the Borders Group Inc. filed for bankruptcy and now, the line is getting longer.
A handful of Borders bookstores will live on, but with a new name and a new look.
A judge has officially approved Borders plans to liquidate, setting the stage for going-out-of-business sales to start Friday.
Ann Arbor-based Borders is liquidating, and will close its almost 400 stores, which will impact about 11,000 employees.
Borders Group is inching closer to liquidation after a bidding deadline passed without offers that would keep the chain in business.
Ann Arbor-based Borders Group appears headed for liquidation after a judge on Thursday approved its motion to auction itself off with a team of liquidators as its opening bid.
Borders gets approval from a federal bankruptcy judge to close another 28 stores around the country.
It was a packed house inside the borders book store in Dearborn for the company’s liquidation sale.
Liquidation sales get underway Saturday morning at more than 200 Borders bookstores around the country.
It’s been long rumored, and now it’s been confirmed: Borders is ready to start the bankruptcy process.