Borders: Borders Group starts liquidation sales at all of its 399 stores as the 40-year-old chain winds down operations. A liquidation company i.e. part of the process said late Thursday that the sales will be held beginning Friday at all 259 Borders superstores, 114 Borders Express and Waldenbooks, and twenty-six Borders airport stores. Gordon Brothers Group, part of a group of liquidators leading the sales, says more than $700 million of the company's inventory, admitting books, stationery, euphony and films will be sold. Store fixtures, furnishings and equipment, admitting shelving and, in some cases, cafe equipment, will also be sold off Discounts of up to forty percent off will be offered on the merchandise initially. Liquidation sales typically last 8 to ten weeks and discounts usually get steeper after in the process, although merchandise is scarcer. Borders gift cards will be valid throughout the sale. This marks the end of an era," said Borders Group President Mike Edwards. Still, some stores may continue open as Books-A-Million stores. The chain is bidding for leases and assets of thirty Borders stores. Under the proposed Bid, Books-A-Million, will assume the leases and carry on to operate the stores. Books-A-Million, based in Birmingham, Ala., operates 231 Books-A-Million, Bookland and Books & Co. stores.Borders:
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