Self liquidating loan program

The stores continued to operate under the Borders brand as the unaffiliated "Borders Asia Pacific" until Red Group was placed into voluntary administration in February 2011; with the five New Zealand stores sold to the James Pascoe Group, and the Australian stores gradually shut down, with the last group to close by July brothers Tom and Louis Borders during their undergraduate and graduate years at the University of Michigan.

The old shop was renamed Charing Cross Bookshop and Tom Frick was sent over from the new bookshop to help.

The chain's flagship store was in downtown Ann Arbor, at the corner of Liberty and State Streets, in the building once occupied by the defunct Jacobson's Department Store.

S., primarily in its Borders and Waldenbooks stores.

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

In 1975, they bought out the stock of Wahr's, an 80-year-old bookstore that was ending business at 316 South State, and hired Michael Hildebrand and Harvey James Robin to stock it with rare books and manage the old shop.

Hildebrand had managed Gibson's used and rare book department in East Lansing for years and Harvey Robin had been a local restorer of rare books, who moved his bindery upstairs.Despite a purchase offer from the private-equity firm Najafi Companies, Borders was not able to find a buyer acceptable to its creditors before its July bidding deadline, so began liquidating its remaining 399 retail outlets, with the last remaining stores closing their doors in September.Rival bookseller Barnes & Noble acquired Borders's trademarks and customer list.Instead, many of the Borders senior management team left the company, leaving behind an even larger and more unwieldy division for Kmart executives to handle on the heels of aggressive expansions by rivals Barnes & Noble and Crown Books.Facing its own fiscal problems and intense pressure from stockholders, Kmart spun off Borders in a highly structured stock-purchase plan.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.

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