A2: Business

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Ann Arbor-based Borders Group is planning to sell the business by the end of July, according to a Detroit News report. From the article: ”Borders indicated in previous filings it planned to either restructure or sell only parts of itself, but Friday’s filing suggests the company is preparing for a wholesale deal. The company has continued to lose money since filing for Chapter 11 bankruptcy protection in mid-February, reporting a loss of $34.5 million between May 1 and May 28, according to a filing late Monday with the Securities and Exchange Commission. Two private equity firms, Gores Group LLC in Los Angeles and Phoenix-based Najafi Cos., are reported to be interested in buying the company.” [Source]