liquidation http://michiganradio.org en News roundup: Borders to go out of business http://michiganradio.org/post/news-roundup-borders-go-out-business <p>Borders Group Inc., the Ann Arbor-based bookstore chain, <a href="http://michiganradio.org/post/borders-books-going-out-business">announced yesterday that it is closing</a> after failing to find a buyer. Some stores will close as early as Friday. The liquidation of Borders is making headlines across the state and around the country:</p><ul><li><em>NPR.org</em>: <a href="http://www.npr.org/2011/07/19/138499967/mich-book-chain-borders-closing-after-40-years">Mich. book chain Borders closing after 40 years</a></li><li><em>The New York Times</em>: <a href="http://dealbook.nytimes.com/2011/07/18/borders-calls-off-auction-plans-to-liquidate/?scp=1&amp;sq=borders&amp;st=cse">Calling off auction, Borders to liquidate</a></li><li><em>AnnArbor.com</em>: <a href="http://annarbor.com/business-review/borders-liquidation-chapter-11-ann-arbor-bookstore-chain-borders-group-e-books/">10,700 jobs lost, 400 in Ann Arbor</a></li><li><em>Detroit Free Press</em>: <a href="http://www.freep.com/article/20110719/BUSINESS06/107190400/Borders-shut-down-good-after-deal-collapses?odyssey=tab|topnews|text|FRONTPAGE">Borders to shut down for good after deal collapses</a></li><li><em>Detroit News</em>: <a href="http://detnews.com/article/20110719/BIZ/107190368/Final-chapter-for-Borders--10-700-workers-to-lose-jobs">Final chapter for Borders; 10,700 workers to lose jobs</a></li></ul><p>Meanwhile, Michigan Governor Rick Snyder&#39;s office says the closing of Borders is more a reflection of publishing industry problems than a statement about Michigan&#39;s business climate, the Associated Press reports. From the AP:</p><blockquote><p>His office says the fall of Borders marks the end of an important piece of Michigan history. Snyder is a former Ann Arbor businessman who was elected as a Republican in November.</p><p>Spokeswoman Geralyn Lasher says the Snyder administration will &quot;want to look closely from the jobs perspective of people in the state.&quot; Tue, 19 Jul 2011 11:03:25 +0000 Zoe Clark 3367 at http://michiganradio.org News roundup: Borders to go out of business Borders Books liquidation sale begins Saturday at closing stores http://michiganradio.org/post/borders-books-liquidation-sale-begins-saturday-closing-stores <p>The company handling the liquidation sales at some 200 <a href="http://www.borders.com/online/store/Home">Borders Books</a> stores announced today the sales will begin Saturday.&nbsp;&nbsp;<a href="http://www.hilcomerchantresources.com/news/article.asp?ARTICLE_ID=264"> Hilco Merchant Resources</a> of Chicago issued a press release saying the liquidation will begin with 20 to 40% on all merchandize with some exceptions.&nbsp;Over $350 million of inventory including books, magazines, music and movie media, calendars, posters and more will be liquidated.&nbsp;&nbsp;</p> Fri, 18 Feb 2011 21:52:37 +0000 Steve Carmody 1351 at http://michiganradio.org Borders Books liquidation sale begins Saturday at closing stores