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Borders’ Landlords and Creditors, Kobo Object to Bankruptcy Liquidation
Borders Group Inc. faces objections as it heads to liquidation from creditors, landlords and e-book maker Kobo Inc., which called the sale process “hurried and confused.”
Borders will wind down its remaining 399 stores starting July 22 after it couldn’t reach an agreement with an earlier bidder, Najafi Cos., about an offer to keep the company running. The company won’t hold an auction as there have been no proposals to keep the company operating, it said in a statement yesterday.