Quote:
Originally Posted by SensualPoet
There is more detail today at Bloomberg: http://www.bloomberg.com/news/2011-0...uy-stores.html
Najafi had been reported interested in about half the remaining 405 stores and if that remains true, the balance will be liquidated by Hilco. Hilco was in the news this week for having purchased HMV Canada -- a network of 121 stores for $3.2 million.
There was another party interested in Borders -- Gore Brothers -- and they have an opportunity to evaluate the Najafi bid before a July 19 court decision. Unfortunately, the Gore folks seemed only interested in about half the stores as well. |
Half the remaining stores---about a third of the pre-bankrupcy size---sounds about right for a shot at profitability if Najafi can quickly execute on the stated desire to get Borders serious about ebooks. At a minimum they need to get a generic ebookstore website, preferably with a branded flagship reader, in place by Xmas.
A tough row to hoe.
But not impossible.
I wonder if the phones are ringing at Bluefire.
