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Najafi, Gores Seek To Buy Borders Stores

Phoenix-based private equity firm Najafi is in talks to acquire half of the stores of bankrupt bookstore chain Borders Group.

Phoenix-based private equity firm Najafi is in talks to acquire half of the stores of bankrupt bookstore chain Borders Group, The Wall Street Journal reports. Los Angeles-based Gores Group has also shown interest in the Borders stores.

The Michigan-based bookstore chain filed for Chapter 11 bankruptcy protection in February and has lost 237 stores since then. It now has 405 stores, adds Bloomberg. The bidders will also acquire Borders’ website operations and customer lists.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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