• Private equity firm is looking to buy Borders

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According to the Wall Street Journal, Najafi Companies is one of a number of suitors looking to buy the bulk of Borders Group Inc., the bankrupt bookseller.

Najafi, a private equity firm based in Phoenix, is moving quickly to complete its due diligence in order to purchase Borders' remaining superstores.

Borders, citing declining sales of books, filed for bankruptcy this year, and the company so far has closed 225 of it 500 superstores.

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