Landlords anxious to know whether their centers will be affected by the Borders reorganization will have to wait a little longer. On Wednesday, the bankruptcy court granted the retailer an extension to decide which to keep and which to terminate. In addition, the court approved $505 million in debtor-in-possession financing Borders arranged prior to filing for Chapter 11.
The Wall Street Journal reports that Borders executives would like to exit bankruptcy protection by summer's end and are seriously considering closing an additional 75 stores, on top of the 200 closings confirmed subsequent with the chain's bankruptcy filing. For more stories about retail and retail real estate, follow the links below: