Borders filed three motions Friday asking the bankruptcy court to extend the deadline to assume or reject leases on 92 stores. According to the motions, Borders is asking that it be given an extension on making a decision on the stores until either the confirmation of a reorganization plan or January 12, 2012, whichever event occurs first.
The extension will remain in effect as long as Borders is meeting all obligations to the different landlords since the retailer filed for Chapter 11. A Borders' spokesperson said the company "expect(s) to assume all or substantially all of the leases upon confirmation of a plan of reorganization or in connection with the sale of the business as a going concern."
Among the stores that Borders is looking for more time to review the lease is the company’s original store in Ann Arbor.
To see the lists of stores whose leases Borders is asking for more time to review, click, here, here and here.
