borders books faces liquidation
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Borders books faces liquidation

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Borders books faces liquidation

Washington - Afp

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, the Wall Street Journal reported Thursday. 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. The Journal said the critics of the deal, who are owed money by Borders, had complained that the Najafi bid would allow it to liquidate the bookstore chain. The Najafi group had offered $215 million for Borders and an assumption of $220 million in liabilities, but a creditors committee said an offer of $252 million from a liquidators\' group amounted to a better deal, the Journal said. The book chain has since appointed the liquidators as the opening bidders in the auction set for Tuesday. Borders President Mike Edwards confirmed that Najafi had withdrawn its bid and liquidators were circling, while expressing hope that other bidders would emerge to save the company, the Journal said, citing a letter to employees. The development raises the likelihood that Borders will soon have to close its remaining 399 stores, lay off some 11,000 people and go out of business, the newspaper reported. Borders has shut down 200 locations since it filed for bankruptcy in February but is reportedly still bleeding revenue. The company has lost millions of dollars in recent years as the book industry has faced online competition and struggled to make the transition from print to digital products. In July 2010, Borders launched an online electronic book store to challenge Amazon, Apple, Barnes & Noble and Sony in the fast-growing digital books market, but many industry analysts said the move came too late.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

borders books faces liquidation borders books faces liquidation

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

borders books faces liquidation borders books faces liquidation

 



GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 09:36 2017 Thursday ,07 December

Heidy Karam’s contract to present talk show close

GMT 10:50 2012 Friday ,20 January

Dusty weather expected in UAE on Friday

GMT 09:35 2018 Saturday ,13 January

New Zealand bat first in third ODI against Pakistan

GMT 10:48 2017 Saturday ,23 December

Meryl Streep's brand under threat

GMT 06:53 2017 Thursday ,11 May

17th Doha Forum To Begin Sunday

GMT 10:30 2017 Thursday ,23 November

Reports underline proliferation of weapons in Arab world

GMT 07:46 2017 Monday ,30 October

Catch it early, treat it early and move on

GMT 08:05 2015 Tuesday ,17 February

Conan O'Brien is first late night host to film in Cuba

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice