No Bidders for Borders as Deadline Passes: "
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NEW YORK (TheStreet) -- Bankrupt bookseller Borders inched closer to liquidation after a bidding deadline passed without offers, The Wall Street Journal reported, citing people familiar with the matter.
Bids for Borders, the second-largest U.S. retail bookseller, were due at 5 p.m. EDT Sunday ahead of a bankruptcy-court auction scheduled for Tuesday, according to the Journal.
Borders, the newspaper said, is likely to entertain offers right up until the scheduled auction in the hopes of attracting a bidder to save the chain.
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