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Borders in Talks to Sell Half Its Stores

Stocks in this article: BGP

NEW YORK ( TheStreet) -- Borders (BGP) is in talks to sell more than half of its remaining stores to private-equity firm Gores Group, The Wall Street Journal reported.

Borders filed for bankruptcy protection in February.

Gores is discussing buying more than 200 of Borders' 405 remaining stores, said people familiar with the matter. The stores and other assets could be bought for about $200 million or so, the people said, the Journal reported.

Borders had 642 stores before it entered bankruptcy.

The talks remain fluid and could fall apart, the people said.

Other unidentified suitors are also in discussions with the bookstore chain, the newspaper said.

A Borders spokeswoman declined to comment, as did a spokesperson for Gores.

The Journal noted how interest in Borders has picked up since Liberty Media's recent bid for Barnes & Noble (BKS), which valued that chain at roughly $1 billion.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

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