Private equity firm Gores Group is in talks to purchase more than half of bankrupt bookseller Borders Group Inc's (BGPIQ.PK) remaining stores, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Borders, which filed for Chapter 11 bankruptcy protection in February, would be able to continue operating as a going concern, according to the report. A Borders spokeswoman failed to comment and a representative for Gores Group did not immediately return a request for comment. Before the bankruptcy filing, Borders operated more than 500 namesake superstores, as well as the Waldenbooks chain of smaller bookstores. Borders contended with years of declining book sales in the years leading up to its bankruptcy filing. It has so far closed about 225 of its 500 superstores.
Source
