Borders won’t put itself up for sale
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Times Wire Reports
Borders Group Inc. said it was no longer considering a sale of the company.
It said it might still sell its Paperchase Products unit to Pershing Square Capital Management for $65 million.
The bookseller posted a third-quarter net loss of $175.4 million, or $2.90 a share, wider than the $161.1 million, or $2.74, deficit a year earlier, as consumers cut back on purchases of books and magazines. Revenue fell to $693.4 million from $765.2 million, the Ann Arbor, Mich.-based company said.
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