The USA's second largest book seller -- Borders Group Inc. , based in Ann Arbor, Michigan - announced today that it is exploring selling itself having just arranged for $42.5 million in financing from its largest shareholder (Pershing Square Capital) just to stay afloat.
It will be interesting to watch who might purchase Borders given the book industry's declining sales figures. Barnes and Noble should probably avoid buying the struggling Borders opting instead to sell books in new ways versus adding more retail space to its balance sheet. Personally I could see a private equity fund like Pershing take the company private like Chrysler Corporation is today.
Sadly I don't have the financial resources to buy Borders myself but I do have enough cash to buy the hugely discounted books I think Borders will be offering consumers to improve their cash flow.
Cheap books make for even better stories,
Todd
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