walkitout (walkitout) wrote,
walkitout
walkitout

Borders News: Liquidation

http://www.boston.com/Boston/businessupdates/2011/07/borders-seeks-liquidate/mAx1NCe88B5Y5ZrLxNtHuJ/index.html

"On Thursday, Borders is expected to ask the Bankruptcy Court of the Southern District of New York at a hearing to allow it to be sold to liquidators led by Hilco Merchant Resources and Gordon Brothers Group of Boston. If the judge approves the move, liquidation sales could start as soon as Friday; the company could go out of business by the end of September."

This is sort of a big deal in Boston, because of the Downtown Crossing store. Lots of rumors afloat about what it might become. I, personally, like the idea of it becoming a grocery store:

http://www.wbur.org/2011/06/10/borders-boston

Back in June, "WBUR’s All Things Considered host Sacha Pfeiffer spoke with Rosemarie Sansone, president of the Downtown Boston Business Improvement District." and Sansone said:

"A rental broker, I believe, has already been hired to find a new tenant. Any prospective tenants so far, or anyone ideal you have in mind?

People have talked about a brand-name retailer as an anchor there. A small grocery store, a boutique grocery store, could certainly be useful in this neighborhood. So I’m feeling very positive about that particular space."
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