A2: Business

The Wall Street Journal reports that Ann Arbor-based Borders Group, the bookstore chain that filed for Chapter 11 bankruptcy earlier this year, is planning to move its headquarters to Detroit, where it can rent cheaper office space. From the report: “Presenting its business plan to an unsecured creditors committee, predominantly made up of publishers and landlords, Borders also plans to say it has now closed about 50 superstores as part of efforts to emerge from Chapter 11 bankruptcy, according to people familiar with the matter. Altogether, Borders will close 226 by the end of next month, although a handful of additional stores could be closed, depending on negotiations with landlords, the people said.” [Source]