Borders to sell name, website
New York City — According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.
The Sept. 14 auction, which will sell off the logo, trademarks, website, customer lists and other intellectual property, is expected to draw millions of dollars worth of offers.
A bankruptcy judge is slated to rule on the proposed auction on Aug. 10.
The team of liquidators is led by Gordon Brothers Group and Hilco Merchant Resources, who have a Nov. 13 deadline to empty the stores of all merchandise and fixtures.
OfficeMax finds a Nook in e-reader market
NAPERVILLE, Ill. —OfficeMax is following Toys"R"Us’ lead and adding e-readers to its product offerings. The retailer announced that it will sell Barnes & Noble Nook and Nook Color e-readers at all OfficeMax stores and OfficeMax.com starting July 30.
"OfficeMax is very pleased to offer our customers access to Barnes & Noble’s NOOK brand of eReading products," said Ryan Vero, EVP and chief merchandising officer for OfficeMax. "Innovative features that deliver a rich reading experience, as well as access to a vast selection of sought-after books, periodicals and more, have made NOOK a popular choice among avid readers of all ages."
The Nook retails for $139, while the Nook color sells for $249.
NRF urges Congress to raise debt ceiling
WASHINGTON — The National Retail Federation announced that it is urging Congress to reach an agreement and raise the debt ceiling in order to avoid default.
NRF president and CEO Matthew Shay issued the following statement:
“The retail industry, accounting for one in four American jobs and nearly 20 percent of our nation’s GDP, urges Congress and the White House to work together to expeditiously raise the debt ceiling so that the government can meet its financial obligations and provide certainty for the country and the overall economy. Defaulting on our nation’s debt would send shock waves through all sectors of the economy, including retailers, employees and consumers. Higher interest rates for consumers and small businesses will drive down consumer demand, which is already lagging, and cost jobs in the retail sector.