Thursday, July 14, 2011

Borders in the U.S. facing liquidation

US book chain Borders is on the brink of liquidation after the collapse of a deal with the Najafi investment firm aimed at saving the bankrupt company. At the start of this month Borders had designated Najafi as the opening bidder in a looming bankruptcy court action, but that deal has reportedly fallen through because of objections by publishers and landlords Tough times for booksellers.