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Shareholders used to.

The stock became worthless. The company went into bankruptcy.

In bankruptcy, the creditors committee wouldn't authorize a bidder for takeover, so the backup plan became liquidation, to satisfy debts to the publishers.

Hilco and Gordon Brothers, liquidators, own the stores now, and set all of the terms for sale. This includes returns, whether and how previous loyalty programs are accepted, and pricing.

Former Borders employees now work for the liquidators, and have no say in how the sales are run. By the end of September, 2011, there will be no more Borders Books, and then nobody will own it.

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12y ago
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1mo ago

No, Barnes and Noble did not buy Borders. Borders Group, Inc. was a separate bookstore chain that went bankrupt in 2011. Barnes and Noble is a different book retailer with its own history and operations.

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Q: Did barnes and nobles buy borders?
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