IT'S OVER: Borders To Begin Liquidation As Early As This Week

It comes as little surprise after last week's deal to save the bookselling chain collapsed, but Borders announced today that it would be selling its assets to a team of liquidators led by Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC. Going out of business sales are reported to be starting as early as this Friday. Perhaps the worst result of this whole affair is that in the closing of the Ann Arbor, Michigan based company's 399 remaining stores, a total of 10,700 people will lose their jobs, so if you are peeved that a bookstore you used to like is shutting its doors, try to imagine how those people must be feeling.

Borders plans to liquidate, ending 40-year-old bookstore chain (AnnArbor.com via GAWKER)
previously:
Bankruptcy Deathwatch: Will Borders Finally Go Belly-Up?