The three Borders bookstores in Maine will begin liquidating merchandise as early as Friday, a company spokesman said today.
The chain, based in Ann Arbor, Mich., is scheduled to seek approval Thursday in federal bankruptcy court that would allow the company to be sold to liquidators.
“Sales will start as early as this Friday in some stores,” said spokeswoman Mary Davis. “All stores will close by the end of September. Exactly when depends on how quickly they sell their merchandise.”
Borders has 10,700 employees at 399 stores across the country, including locations in South Portland, Brunswick and Bangor.
The company began bankruptcy proceedings months ago. Information about the possibility of employee severance packages was unavailable.
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