NEW YORK (AP) -- A judge granted Borders an extension to file its reorganization plan under bankruptcy protection, but a sale of some of its stores appears more likely.
A Borders lawyer confirmed Thursday that a bankruptcy judge granted the extension at hearing in New York.
Borders now has until October to file a plan with the court, but Andrew K. Glenn said he expects to file a motion in two to four weeks about selling the company.
Glenn confirmed Borders is in talks with several buyers to sell all or most of its stores.
Thursday's hearing followed unconfirmed reports that private equity firm Gores Group is in talks to buy about 200 of Borders' roughly 400 remaining stores.
Borders Group Inc. sought bankruptcy court protection in February and continues to face increasing competition.
The Associated Press