Why There are Still Borders Bookstores in Malaysia, Or The Strange Case of the Zombie Chain

When a company files for Chapter 7 bankruptcy liquidation, as Borders did, its creditors start selling off the company’s assets to pay its debt. Within the U.S., where all Borders locations were directly owned by the company, Borders’ creditors could sell off the physical stores themselves. Not so in Malaysia, where Borders is a franchise operated by Berjaya Books Sdn Bhd, a subsidiary of a large local conglomerate.
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