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NEW YORK (

TheStreet

) -

Borders

(BGP)

is selling its Day by Day Calendar business as it looks to shore up cash amid its liquidity crisis.

The book seller confirmed with

TheStreet

that it entered into an agreement with Calendar Holdings to divest its kiosk business. Borders operated about 420 freestanding and in-line locations nationwide this past holiday season.

>>The Borders Story: Is This the Final Chapter

More information about the sale will be made available when the company releases its fourth-quarter results.

--Written by Jeanine Poggi in New York.

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>>The Borders Story: Is This the Final Chapter

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