Borders begins liquidation sales at all stores

NEW YORK - July 22, 2011 (WPVI) -- Borders Group is beginning liquidation sales at all of its 399 stores.

A liquidation company that is part of the process said late Thursday that the sales will be held starting Friday at all 259 Borders superstores, 114 Borders Express and Waldenbooks, and 26 Borders airport stores.

Gordon Brothers Group, part of a group of liquidators leading the sales, says more than $700 million of the company's inventory, including books, stationery, music and movies will be sold.

Store fixtures, furnishings and equipment, including shelving and, in some cases, cafDe equipment, will also be sold off.

Some stores may remain open as Books-A-Million stores. That chain is bidding for leases and assets of 30 Borders stores.

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