Reddish book chain Borders went bankrupt earlier this year, and it looks like the "anything but books" revitalization plan hasn't panned out. We could be living in the last few days of Borders' existence, ever.
The WSJ says that a buyout offer for Borders fell through last night, because, although it might have kept the company running, creditors thought it was too low. They had a significantly better offer from a liquidator. And no saviors seem to be looming on the horizon.
The development raises the prospect that Borders will soon close all its remaining 399 stores and go out of business. No other suitors have so far emerged for Borders ahead of a Sunday bidding deadline.
Sad. We should do something, guys. Does anyone want to chip in $253 million?
[WSJ; photo via AP]