Last call for bankrupt Borders stores in Methuen, Salem, NH

If you would like to see the bankrupt Borders bookstores in Methuen and Salem, N.H. remain open, you better put a bid in on them before Sunday night.

As of now, it looks like the whole chain might be headed to a Chapter 7 liquidation sale, which would eventually close the Methuen and Salem stores along with all the others. After Borders filed bankruptcy the Methuen and Salem locations remained open and largely unaffected. That’s no longer true.

On Wednesday, creditors objected to a plan by private investor Najafi Company, which would have allowed for the chain to continue operations. The private equity group has since withdrawn its bid. That leaves only a “stalking horse” bid by a liquidation company.

Unless another bid shows up by 5 PM Sunday evening, the Borders bookstore chain looks like it will be headed for a Chapter 7 liquidation.

 

By Doug Beaton

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