Borders Wins OK To Hand 200 Stores To Liquidators

Law360, New York (February 17, 2011, 2:28 PM EST) -- A bankruptcy judge on Thursday cleared Borders Group Inc.'s plan to close 200 stores, allowing the book retailer to hand over the locations to liquidators who are eager to launch going-out-of-business sales as soon as this weekend.

Chief Judge Arthur J. Gonzalez granted the company's store closing request in the U.S. Bankruptcy Court for the Southern District of New York, saying that Borders showed it would face serious financial consequences if not allowed to shut down the locations.

“At the end of the day, there is...
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