Borders seeks to liquidate, close all 399 stores
Ann Arbor, Mich. — Borders Group, which had been holding out hope that a buyer would come forward to save the company, said late Monday it will seek court approval Thursday for a liquidation led by Hilco Merchant Resources and Gordon Brothers Group.
The bookseller said that, with approval by the U.S. Bankruptcy Court of the Southern District of New York, it could begin shuttering its 399 remaining stores as early as Friday, and it is expected to go out of business for good by the end of September.
"Following the best efforts of all parties, we are saddened by this development," said Borders president Mike Edwards in a statement. "We were all working hard toward a different outcome, but the head winds we have been facing for quite some time, including the rapidly changing book industry, e-reader revolution and turbulent economy, have brought us to where we are now."
Borders’s best chance to stay in business fell apart last week when the $215 million bid by private-equity investor Jahm Najafi dissolved and the chain was unable to find other potential buyers to keep it alive.
It now faces 399 store closings and putting nearly 11,000 people out of work. Borders said it does expect to be able to pay vendors for all expenses incurred during the bankruptcy cases.
Food Lion, customers raise more than $100K for Children’s Miracle Network Hospital
SALISBURY, N.C. — Food Lion stores located along the coasts of North Carolina and South Carolina raised more than $100,000 during the retailer’s "Thriller on the Griller at the Beach" events.
The events, which took place from June 17 to July 3 at 14 stores, raised $101,149, Food Lion said. The company said that the funds raised surpassed the retailer’s goal by nearly $15,000.
Funds raised will provide families with such assistance as help with the purchase of hospital medical equipment or other needs as identified by Children’s Miracle Network Hospitals in North Carolina and South Carolina.
SC Johnson introduces all-in-one cleaning system
COLORADO SPRINGS, Colo. — SC Johnson is bringing together its cleaning brands in a new, lightweight sprayer.
The SC Johnson all-in-one cleaning system brings together Windex, Fantastik, Scrubbing Bubbles, Pledge and Shout Carpet. The cleaning system allows users to hold 3-of-the-5 concentrated cleaner cartridges at once in a single hand-held sprayer, allowing consumers to seamlessly clean each room and surface by instantly switching among the cleaners.
"Consumers today trust the same products that their mothers did — but they don’t clean the same way. Given today’s busy schedules, there simply isn’t time to be tied down by old techniques that haven’t evolved," said Kelly Semrau, SVP global corporate affairs, communication and sustainability for SC Johnson. "SC Johnson is committed to providing revolutionary tools designed to make life simpler and easier for busy families."
The available concentrated cleaner cartridges include:
Windex (for glass): Perfect for glass, mirrors and chrome — use it for a streak-free shine;
Fantastik (for kitchen): Fights tough grease and grime in the kitchen on countertops, stovetops and stainless steel;
Scrubbing Bubbles (for bathroom): Works on tough surfaces like tubs, showers, tile, counters and sinks;
Pledge (for furniture): Cleans and dusts all your hard surfaces in one easy step and is safe to use on wood; and
Shout (for carpet): Ideal for spots and stains on the carpet.