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Borders auction canceled, going-out-of-business sales to start Friday

from Publishers Weekly

Borders has confirmed that it will submit the proposal from a consortium of liquidators led by Hilco and Gordon Brothers to bankruptcy court on Thursday. If approved, as expected, going-out-of-business sales will begin under a phased rollout at stores and facilities starting Friday. The sales will continue until the end of September. No auction is necessary, because the retailer did not receive a formal proposal for a going concern bid. more

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