Borders Group's liquidation plan is set to proceed after receiving approval from a bankruptcy judge.
There will be no storybook ending for Borders. The 40-year-old bookseller could start shuttering its 399 remaining stores as early as Friday.
Europe's debt troubles and an impasse over lifting the U.S. government's borrowing limit are dragging down stocks.
Borders Group, the nation's second largest book store chain that once operated over 1,000 stores, appears headed for liquidation after a judge on Thursday approved its motion to auction itself off with a team of liquidators as its opening bid.
Billionaire investor Carl Icahn, Dish Network and a pair of liquidation firms are among the bidders for video-rental chain Blockbuster in an auction Tuesday morning at U.S. Bankruptcy Court in New York.
