Borders Bankruptcy Plan

Borders Group Inc seeks to name a stalking horse bidder by July 1, an auction to be held on July 19, a sale hearing by July 22, and a sale closing on or before July 29. According to the Detroit news, private equity firms Gores Group and Najafi Cos. are two potential bidders, with Gores Group thought to be the stalking horse bidder. Should a sale fall through, Borders would proceed with liquidation.