Borders has been granted an extension until October to file its reorganization plan. In part this is reported to be because the ailing company is in talks with potential purchasers. One of these potential suitors is the Gores Group, a private-equity firm that specializes in buying up distressed companies. According to the Wall Street Journal, Gores is interested in purchasing around half of the remaining Borders locations and would keep them open.
Meanwhile, Gizmodo is reporting that Borders Australia has sent out emails to customers announcing the closure of all of its retail stores in that country. The Borders.com.au website is still up and bears a banner proclaiming “It’s Business as Usual,” so the company’s online presence may survive.