Borders Gets OK to Begin Liquidation Sales
Borders Group's liquidation plan is set to proceed after receiving approval from a bankruptcy judge. A judge on Thursday approved the 40-year-old booksellers’ plan to appoint liquidators led by Hilco Merchant Resources and Gordon Brothers Group to sell off its assets. Going-out-of-business sales are set to begin at some stores Friday. About 30 to 35 of the stores could be sold to rival chain Books-a-Million Inc., but the two companies are still in talks. Books-A-Million, based in Birmingham, Ala., will become the second largest U.S. bookseller after Borders liquidates.