Energy Conversion Devices Inc. (OTC: ENERQ.PK) and its wholly-owned subsidiary United Solar Ovonic LLC last week announced that the United States Bankruptcy Court for the Eastern District of Michigan has confirmed its Second Amended Joint Plan of Liquidation.
A judge has officially approved Borders plans to liquidate, setting the stage for going-out-of-business sales to start Friday.
Analysts are busy assessing the potential winners and losers when Borders Group begins the process of going out of business.
The Wall Street Journal is reporting that the private equity firm that tentatively agreed to purchase bankrupt Ann Arbor-based Borders Group is having second thoughts.
Liquidation sales get underway Saturday morning at more than 200 Borders bookstores around the country.