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Wednesday, Dec 6, 2023

Borders may be sold

NEW YORK — Borders, the nation’s second-largest bookstore chain, said today that it is considering selling all or part of the company, amid worsening conditions in the bookselling business. Company officials said they have hired JP Morgan and Merrill Lynch to explore “strategic alternatives” for the troubled chain but also cautioned that there was no guarantee any kind of sale would occur. To provide an economic buffer, the firm also announced a $42.5-million lending commitment from Pershing Square Capital, a hedge-fund firm that has a major shareholders stake in Borders. For the full story visit http://www.latimes.com/business/la-et-bordersweb21mar21,1,7255090.story

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