![]() ![]() "The sale simply cannot take place in the timeframe required if there are any further delays in the schedule," Borders said, noting that terms of its bankruptcy loan require completion of the sale by July 29 to avoid default. ![]() Borders "called for flexibility from the roughly 20 landlords who objected to its proposed auction plan on grounds that the plan gives insufficient notice on whether Borders' eventual buyer will be able to make lease payments," Reuters reported. Bankruptcy Court in Manhattan, Borders attempted to address complaints from landlords who accuse the bankrupt chain of keeping them in the dark regarding the future of their leases. ![]()
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