Borders Seeks More Time To Consider Leases

Law360, New York (March 3, 2011, 6:43 PM EST) -- Borders Group Inc. on Tuesday asked a New York bankruptcy court for extra time to decide which of its nearly 700 commercial leases it will keep as it reorganizes under Chapter 11 protection.

The bookseller asked for a 90-day extension in a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, saying that it needed "sufficient time to make critical decisions concerning the geographical footprint of the stores around which they will reorganize."

Borders also requested a stipulation that would provide...
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