Borders, the bankrupt chain that once owned 1,249 bookstores, will cease to exist at day’s end on Sunday (September 18).
Borders began liquidating its last 399 stores in July when a white-knight bid to purchase the business was opposed by creditors and lenders who argued they’d recover more if it Borders was liquidated immediately.
A few vestiges of Borders will remain. Books-A-Million is taking over 14 stores. And bidders including Barnes & Noble and Malaysian company Berjaya Books (which operated some Borders in Malaysia) will take over $15.8 million in Borders’ intellectual property. That includes trademarks; the Borders, Waldenbooks and Brentano’s trade names; Internet domain names; and the Borders.com e-commerce website.
[Thanks to David Klaus for the story.]