Borders Website May Live On Past The Bankruptcy
After the liquidation of Borders book stores are done due to the bankruptcy of the company, the website may live on. Borders Group Inc. is asking the U.S. Bankruptcy Court in the Southern District of New York to allow the company to pursue the sale of its brand name, website, and other I.P.
Borders Gruop Inc. is closing all of its 399 remaining stores as part of their liquidation. This is a similar strategy that Circuit City pursued. Although Circuit City does not have any retail stores left, but their website was sold and is still operational.
Borders said that the sale of their IP assets “should garner significant interest from potential bidders.” They already have multiple inquiries too. Online sales made up about 3% of Borders’ total revenue. Borders also wants to sell their membership lists, customer information, contact information, email addresses, and purchasing history. Borders has about 40 million members as part of the Borders Rewards program.@amitchowdhry or on Google+ at +AmitChowdhry