Borders Agrees To Change Lease Sale Bidding Process

Law360, New York (August 9, 2011, 5:08 PM EDT) -- Borders Group Inc. on Monday asked a New York bankruptcy court to approve several changes to its bidding procedures as it prepared to auction off its store leases.

Responding to recent objections from more than 20 landlords who are concerned they will not have enough time to object to bids, Borders agreed to push back the first auction objection deadline from Sept. 2 to Sept. 6 and the second from Sept. 15 to Sept. 16, assuming court approval. The bookseller also said it would work to...
To view the full article, register now.