Well, the bidding has closed as of 5 pm Sunday, and no bidder has emerged. Next step, back to the court to begin an "in courtroom" auction to liquidate the company. There is only one bid: $252 million to take over the assets as is and sell them of as quickly as possible as receivership with proceeds going to the receiver and creditors. The final result: all 400 remaining stores closed; all leases annulled, and 11,000 people out of work.
Latest news here:
http://online.wsj.com/article/SB1000...560587970.html
Bye, bye Borders.