Liquidating distressed inventory

Facing its own fiscal problems and intense pressure from stockholders, Kmart spun off Borders in a highly structured stock-purchase plan.The newly formed company was initially called Borders-Walden Group and, by the end of the same year, renamed simply Borders Group.) in Wheelock Place, Orchard Road, which was then the largest bookstore there.The first Borders bookshop, with a meager stock of used books, was located in two rooms above 209 State Street, north of the State Theater.From there, the brothers soon moved, briefly, to a tiny ground floor and mezzanine operation in the Maynard House apartment building, on the southwest corner of William and Maynard Streets.While the preference provisions under the Bankruptcy Code are intended to...

by brothers Tom and Louis Borders during their undergraduate and graduate years at the University of Michigan.

At the beginning of 2010, the company operated 511 Borders superstores in the US.

The company also operated 175 stores in the Waldenbooks Specialty Retail segment, including Waldenbooks, Borders Express, Borders airport stores, and Borders Outlet stores.

Wahr's had been mainly a textbook and school-supplies vendor, but the brothers did not deal in textbooks.

They moved the retail bookshop to much larger quarters that had become available across State Street, in the former location of the Wagner and Son men's clothing store.

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Although not the original location, it was identified as "Borders #1" because it was the flagship store.

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