Borders has obtained court approval of its store-closing plans and has begun liquidating inventory at the 200 affected locations. DJM Realty is assisting with the store closings and lease assignments. The store closings are part of the restructuring Borders is undertaking under Chapter 11 bankruptcy protection (see “Borders Files Chapter 11”). 
 
Inventory liquidation on site, if successful, will reduce the amount of inventory publishers, wholesalers, and distributors can expect to get back as returns as Borders closes nearly 1/3 of its stores.  Whether that’s good or bad for the individual company varies, depending on whether the receivable risk resides in the various relationships.