Store Closing Sales Begin at Borders Locations

Under authority of the U.S. Bankruptcy Court, store closing sales begin today at 26 Borders book stores in 14 states.


Unedited press release follows:

Store Closing Sales Begin Today at 26 Newly Announced Borders Locations;
Inventory & Fixtures Liquidation Managed by Hilco Merchant Resources, Gordon Brothers Group, SB Capital Group and Tiger Capital Group

20% To 40% Discounts Offered on Tremendous Selection of Literature, Entertainment Media and More

CHICAGO–Under authority of the U.S. Bankruptcy Court, store closing sales begin today at 26 Borders book stores in 14 states. Nearly $50 million of inventory including books, magazines, music and movie media, calendars, posters and more will be liquidated.

Discounts from 20% to 40% with limited exceptions are offered on all merchandise at these newly announced locations. Consumers will enjoy very substantial savings on the entire stock of books in every category, including new releases, best sellers, textbooks, rare and collectible books and children’s books. There are also significant price reductions on thousands of music CDs, video DVDs and Blu-Ray, arts and crafts items, language learning systems, games, puzzles and more.

Borders Rewards programs, including Borders Rewards Plus, remain in effect. Customers can continue to earn and redeem their Rewards in all stores and on Borders.com. Gift cards will also be honored as usual.

The liquidation of inventory and store fixtures is being managed by a joint venture composed of Hilco Merchant Resources, LLC, Gordon Brothers Group, SB Capital Group, LLC, and Tiger Capital Group. A spokesperson for the joint venture said, “This is an important opportunity for consumers to benefit from very compelling discounts on a vast assortment of literature, entertainment media and much more. Based on the tremendous response to the store closing sales already underway at 200 other Borders locations, we believe that today’s value conscious consumers will take advantage of the exciting savings at these new locations. We anticipate that this will be a short sale.”

About Hilco Merchant Resources, LLC
Based in Northbrook, IL, Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, operational, asset monetization and capital investment services to help retailers define and execute strategic initiatives. Hilco can acquire, co-invest in or facilitate the merger of retail operations; purchase or otherwise dispose of duplicative stores, underperforming divisions, unnecessary distribution centers, inventory, owned real estate, leases, and furniture, fixtures and equipment. Hilco also provides retail restructuring services, interim store management, loss prevention services, marketing and advertising management, merchandising management, and strategic store opening programs.

About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.

About SB Capital Group, LLC
SB Capital Group, a Schottenstein affiliate, is a leader in the field of asset recovery, rescue finance, restructuring and strategic store closing events. As equity stakeholders in businesses comprising sectors as diversified as retail enterprises, consumer products, franchising, licensing and real property, SB Capital Group leverages resources and depth of experience to provide services with applicability across a wide spectrum of industries. Recognized worldwide as a trusted partner for businesses and professionals, SB Capital Group’s participation in transactions that span the globe has solidified a reputation as one of the most creative and innovative financial service and asset realization firms in existence today. Discover more at www.sbcapitalgroup.com.

About Tiger Capital Group
Tiger Capital Group (www.tigergroupllc.com) specializes in the planning, promotion, and management of store-closing events in connection with mergers, acquisitions, downsizing, corporate divestitures and Chapter 11 proceedings. Our focus is to help retailers, assets-based lenders, and other financial institutions understand the underlying value of inventory and to provide key monitoring advice. Professionals within Tiger Capital have many years’ experience and extensive knowledge in the valuation and disposition of assets. Tiger and its affiliated companies provide comprehensive advisory, valuation, auction, management, and disposition services for a broad range of retail, wholesale, and industrial companies.

Store Closing Sales begin Thursday, March 24 at these Borders locations:

4980 Stockdale Hwy Bakersfield CA 93309
Emery Bay Public Market, 5800 Shell Mound St Emeryville CA 94608
7000 Marketplace Avenue Goleta CA 93117
1501 Vine St Hollywood CA 90028
McCarthy Ranch Marketplace, 15 Ranch Drive Milpitas CA 95035
120 Crescent Dr Pleasant Hill CA 94523
11160 Rancho Carmel Drive San Diego CA 92128
588 Francisco Blvd. West San Rafael CA 94901
1499 Post Road Fairfield CT 06430
1041 High Ridge Rd Stamford CT 06905
3637 Peachtree Rd Ne Suite C Atlanta GA 30319
270 Dairy Rd Kahului HI 96732
94-821 Lumiaina Street, Waikele Center Waipahu HI 96797
4100 University Ave West Des Moines IA 50265
3232 Lake Ave. Wilmette IL 60091
4320 Coldwater Rd Fort Wayne IN 46805
8675 River Crossing Blvd Indianapolis IN 46240
9108 Metcalf St Overland Park KS 66212
255 Grossman Dr. Braintree MA 02184
476 Boston Turnpike Shrewsbury MA 01545
2740 E 21St Street Tulsa OK 74114
1 S Broad Philadelphia PA 19107
2525 Westend Nashville TN 37203
Fountains On The Lake, 12788 Fountain Lake Circle Stafford TX 77477
2000 South Commons Federal Way WA 98003
2508 S 38Th Street Tacoma WA 98409