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Borders Group announced on July 1, 2011, that it had found a bidder, Direct Brands, that would acquire the assets for $ 215 million and the assumption of $ 220 million in debt.
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Borders and Group
A view of Ann Arbor toward Liberty and State streets, showing the Burton Memorial Tower, Michigan Theater ( Ann Arbor ) | Michigan Theater, the Borders Group | Borders bookstore No. 1 ( now closed following the company's Chapter 11 bankruptcy ), and several buildings of the University of Michigan
Borders Group, Inc. ( former NYSE ticker symbol BGP ) was an international book and music retailer based in Ann Arbor, Michigan.
Borders Group formerly operated stores in Australia, New Zealand and Singapore.
The stores continued to operate under the Borders brand as the unaffiliated " Borders Asia Pacific " until RedGroup was placed into voluntary administration in February 2011 ; with the five New Zealand stores sold to the James Pascoe Group, and the Australian stores gradually shut down, with the last group to close by July 17.
The newly formed company was initially called Borders-Walden Group and, by the end of the same year, renamed simply Borders Group.
In 1998, Borders ( UK ) Ltd. was established as a Borders Group subsidiary and with its Borders and Books etc.
In April 2005, Borders Group opened its first franchise store with Malaysia's Berjaya Books Sdn.
In March 2007, Borders Group announced it would scale down the number of Waldenbooks outlets it had by half, to about 300, in the next year.
Also in March 2007, Borders Group announced the disposal of its UK and Ireland businesses including its Books etc.
Business in the UK, with the aim of revitalizing the core U. S. business ; however, it was also announced that Borders Group would retain the Paperchase Stationery Business.
Borders Group also launched a customer appreciation program called " Borders Rewards.
In March 2008, Borders Group announced the intention to sell the chain because of financial difficulties.
On May 21, 2010, it was revealed that Bennett S. LeBow, Chairman of Vector Group, was making a large private investment in Borders stock.
On June 3, LeBow became CEO of Borders Group.
Mike Edwards was confirmed as President of Borders Group and CEO of Borders, Inc., the company's principal subsidiary.
Two private-equity firms, The Gores Group and Najafi Companies, expressed interest in purchasing half of the remaining Borders Group stores.
Borders and announced
December 14, Borders UK converted to liquidation ( which is equivalent to Chapter 7 in the US ) and announced it was going out of business.
In September 2007, it was announced the UK and Ireland business of 42 Borders Stores and 28 Books etc.
On August 11, 2009, Borders revealed the names of the replacements for five of the eight members of the Board of Directors, who had previously announced their intentions to quit.
On November 5, 2009, Borders announced that it would close some of its Waldenbooks stores in an effort to improve the profitability of its Specialty Retail operations.
On March 31, 2010, Borders announced that the loan from Pershing Square had been paid in full.
In March 2000 the government announced it planning to create a separate Wales & Borders franchise.
On 13 May 2005 it was announced that he would be created a life peer, and on 10 June 2005 he was created Baron Kirkwood of Kirkhope, of Kirkhope in the Scottish Borders.
It has branch campuses in the Scottish Borders, Orkney and Dubai, and announced plans to open a campus in Malaysia in November 2011.
About this time, but announced earlier that year Forever 21 and H & M essentially switched places, with H & M taking a large in-line space that replaced the old Forever 21 and part of the Borders, while Forever 21 moved to the old H & M, which extruded the original storefront.
On July 15, 2011, Borders Group announced it would liquidate all of its stores by September, including the Kennedy Mall location.
In 2012, it was announced that the Scottish Borders Council was to inscribe extracts from the song's lyrics into the pavement at the newly-developed Market Square in Galashiels.
Borders Group, in an attempt to increase profits and lower the overall expense of their ' Waldenbooks ' brand, also announced that it was downsizing the Waldenbooks chain to respond to the current " competitive environment ".
Borders and on
Abbotsford is a historic house in the region of the Scottish Borders in the south of Scotland, near Melrose, on the south bank of the River Tweed.
Scottish Borders Council is considering an application by a property developer to build a housing estate on the opposite bank of the River Tweed from Abbotsford, to which Historic Scotland and the National Trust for Scotland object.
The town of Peebles in the Scottish Borders holds a traditional week-long " Beltane Fair " every year in June, when a local girl is crowned Beltane Queen on the steps of the parish church.
Although mainly concentrated in the northern Highlands and the Islands, a few examples occur in the Borders ( for example Edin's Hall Broch ), on the west coast of Dumfries and Galloway and near Stirling.
Women of the Right: Comparisons and Interplay Across Borders ( Penn State University Press ; 2012 ) 312 pages ; scholarly essays giving a global perspective on women in right-wing politics.
* 1941 " Borders and subdivision of the Polynesian region as based on our knowledge of the distribution of birds ".
The cairns and Megalithic monuments continued into the Bronze age, and hill forts started to appear, such as Eildon Hill near Melrose in the Scottish Borders, which goes back to around 1000 BC and which accommodated several hundred houses on a fortified hilltop.
Reporters Without Borders has charged him with muzzling the press and ordering attacks on journalists .< ref >
In 2007 the media rights body Reporters Without Borders praised reforms to the criminal code ; journalists can no longer be jailed on defamation charges.
Together with seven other European nations, Switzerland leads the 2005 index on Freedom of the Press published by Reporters Without Borders ( with a score 0. 5 points, zero being the perfect score ).
To promote the album, Flansburgh and Linnell along with drummer Marty Beller embarked on a short tour, performing for free at many Borders Bookstore locations.
The territorial border between the two countries is being definitively mapped pursuant to a Land Border Agreement signed in December 1999, and an Agreement on Borders in the Gulf of Tonkin signed in December 2000.
Organizations such as the Committee to Protect Journalists and Reporters Without Borders publish reports on press freedom and advocate for journalistic freedom.
* Tex ( t )- Mex, a new book from the University of Texas Press, features an article on Orson Welles and Touch of Evil entitled: ' Hallucinations of Miscegenation and Murder: Dancing along the Mestiza / o Borders of Proto-Chicana / o Cinema with Orson Welles's Touch of Evil.
Despite an offer from the private-equity firm Najafi Companies, Borders was not able to find a buyer before its July 17 bidding deadline, and therefore began liquidating its remaining 399 retail outlets on July 22, with the last remaining stores closing their doors on Sunday, September 18, 2011.
Instead, much of the Borders senior management team left the company, leaving behind an even larger and more unwieldy division for Kmart executives to handle on the heels of aggressive expansions by rivals Barnes & Noble and Crown Books.
The third Borders store opened in Queensbay Mall, Penang on 7 December 2006.
However after changing hands in 2009, Borders in the UK and Ireland went into administration on 26 November 2009.
The shares continued to drop throughout the year, and as of December 11, 2009, Borders stocks were trading at $ 1. 30 on the NYSE, which was up almost a point from a low of $ 0. 530 on January 28, 2009.
Borders filed for an auction and the motion was approved by a judge ; however, the bid deadline expired on July 17 without a bidder.
Borders USA closed the doors of its final remaining stores on Sunday, September 18, 2011.
The last remaining Singaporean Borders store in Parkway Parade Shopping Center, closed its doors at 9pm ( Singapore Time ) after a final sale on Monday, September 26, 2011.
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