I am sending for my certificates to frame....:)....

BGPIQ Borders Group, Inc. Common Stock 1/13/2012 Plan of Bankruptcy effective. All shares have been cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=01/12/2012&mkt_ctg=ALL

As CHxx bankrupt stock the current MV is ridiculous high which means
the huge (100% loss) risk once the company cancels the common stock!

i got the email,chap 11,,a turnaround in pps maybe,not chap 7.

Beaten into the ground today...

Not true, they filed for court extension for the civil actions, this will drag out in court for months:

This is in this filing for extension...Filed just a minute ago....

NOTICE OF HEARING ON DEBTORS’ MOTION FOR ENTRY OF AN ORDER
FURTHER EXTENDING TIME TO FILE NOTICES OF REMOVAL OF ACTIONS
PURSUANT TO 28 U.S.C § 1452 AND FED. R. BANKR. P. 9006 AND 9027

Finally, the Debtors have been working with their advisors and the Creditors’ Committee to draft a chapter 11 plan and related disclosure statement.

That speaks volumes.....:)

RELIEF REQUESTED
12. By this Motion, the Debtors seek entry of an order extending the September 14,
2011 deadline to file notices to remove the Civil Actions commenced prior to the
Commencement Date to January 12, 2012.

The auction was done last week. Very soon the stock will be canceled

Hope you are right, my friend!

The auction here doesn't end until end of September, no risk of share cancellation any time soon

They are afraid of the shares cancellation, IMO! JHTXQ canceled all
the shares yesterday.

No some idiot retailer is slamming the bid today

BGPIQ might rise to 0.045 tomorrow after today's rally!

Does BGPIQ have another jump possible?

This CH7 bankrupt Q is extremely overvalued now! Sell ASAP while the
price is still above 0.005. It may be canceled this month due to CH7 liquidation! The current MV $1.7M+ is ridiculous high and too risky! Buy those MV-below-$100K Q stocks to gain back your huge loss here!

If that happens in August all of our longs lose 100% of investments!

So, what will happen after the cancellation of the common shares? Does it mean that we will lose all of our money? Thanks in advance for your response.

Why the very sick CEO did not give the special date to cancel common
shares after the CH7 liquidation? Many CH7 companies disclose that!!

Warning: due to the CH7 liquidation BGPIQ may be canceled next month

Borders Group Liquidation Approved

The U.S. Bankruptcy Court entered an order approving Borders Group's motion, pursuant to Sections 105, 363 and 365 of the Bankruptcy Code and Rules 2002, 6004, 6006 and 9014, of the Federal Rules of Bankruptcy Procedure (I) approving the sale of substantially all of the Debtors' assets free and clear of all liens, claims, encumbrances and interests and the assumption and assignment of executory contracts and unexpired leases related thereto; (II) approving sale procedures and break-up fee and (III) granting related relief. The order also approves a joint venture composed of Hilco Merchant Resources, SB Capital Group, Tiger Capital Group, Gordon Brothers Retail Partners and Great American Group W.F. to act as the Debtors' exclusive agent to conduct sales. The order states, "Any remaining objections to the Motion or the relief requested therein that have not been withdrawn, waived, or settled, and all reservations of rights included in such objections are overruled in all respects and denied."

New 52-week low 0.015 was created so far! Switch all my cheap shares
to make another round of big profits now. Last time to bounce close to 0.03x as I can tell. Sell all my shares at 0.025 ~ 0.03x now....

BGP....RIP, turn the lights off. It was a painful death.

The final days for Borders Group Inc. are just ahead. The country's second-largest bookstore abandoned last-ditch attempts to save the business this week after few bidders stepped up.

The nearly 400 Borders stores still open could start liquidating and selling off assets as soon as Friday. The plan is for all to be shutdown for good by September, leaving nearly 10,000 employees without jobs.

There were many missteps that caused this business to fail from holding too much debt, opening too many stores as well as jumping into the e-reader business to late. But above all, there was one "disastrous move" that put the final nail in Borders' coffin, says retail expert Howard Davidowitz of Davidowitz & Associates.

"I think the biggest thing Borders did wrong is when they turned over their online business to Amazon," Davidowitz tells The Daily Ticker's Aaron Task and Breakout's Jeff Macke in the accompanying interview. "That move finished them off because they gave away the future."

Speaking of future: Where does this leave the future of the U.S. bookstore and Barnes and Noble?

With a $1 billion market cap, Barnes and Noble (BKS) faces an uphill battle against Amazon's (AMZN) massive $100 billion valuation. But Davidowitz is not willing to put the last big-box book chain down for the count just yet.

"I don't believe in inevitable things because I have seen a lot of great changes done in the retail business," he says, pointing to his favorite retailer Wal-Mart (WMT). Not only did Sam Walton change his business from a small variety store model to a discount retail chain, he grew his single Arkansas store into America's largest retailer and employer.

Davidowitz is not giving up on the U.S. bookstore either.

"The retail business is a business of change," but there is still a room for the bookstore in the hearts and lives of many Americans who use them as a place for meetings, gatherings and to just hang out with friends. Davidowitz says the bookstore is going nowhere soon, but we can expect to see a lot fewer of them.

As for the 10 million square feet of empty retail space, Davidowitz predicts the big multi-level stores will likely lay vacant for some time, which will put pressure on small developers and community banks in those areas. Most of the smaller Borders' stores will be gobbled up by retailers that are currently thriving, like Bed Bath and Beyond (BBBY), he says.

Auction failed! Depressed about the "Sad Demise Of Borders" from DJ.

Judge approves Border's liquidation after "Sale Deal" collapses...

Border's "Going Out Of Business Sale" begins tomorrow (Friday 07/22)

Judge approved the CH7 liquidation plan today!

Just switch as I did (buy at 0.022 ~ 0.025 and sell at 0.03 ~ 0.04x)
you might make very good profits! I made over $50K already in three
days from trading BGPIQ so far! Never hold the CH7 pos scam!

Borders Finds Buyer to Continue Operating 30 Stores

Borders Group Inc. said there is one offer from a non- liquidator to acquire 30 stores, plus associated inventory and fixtures.

If the offer measures up, the bookseller said it will seek approval for the sale at the July 21 hearing where the bankruptcy court will be asked to approve going-out-of-business sales conducted by liquidators at the remaining stores.

A state taxing authority in Texas filed papers opposing proposed terms of the sale providing where the liquidators disclaimed responsibility for taxes when the bankrupt company didn’t pay. Texas contends the bankruptcy court has no right to suspend the enforcement of state tax laws.

The state pointed to the liquidation of Ultimate Electronics, where the liquidators disclaimed responsibility for paying sales taxes when the bankrupt company didn’t either. The liquidators who sold off Ultimate Electronics are the same as those proposed to run going-out-of-business sales for Borders.

For Bloomberg coverage on other objections to the sale, click here.

Borders may have sealed its fate 10 years ago when it handed the online bookselling business to Amazon.com Inc. For a Bloomberg feature story, click here.

Borders had 642 stores on entering bankruptcy in February and is currently operating 399. It listed assets of $1.28 billion and liabilities totaling $1.29 billion. Debt included $196 million on a revolving credit and $48.6 million on a term loan. Trade suppliers were owed $302 million for inventory.

The case is In re Borders Group Inc., 11-10614, U.S. Bankruptcy Court, Southern District of New York (Manhattan).


http://www.businessweek.com/news/2011-07-20/lehman-borders-fairfield-madoff-colonial-bankruptcy.html

if I sold my secrets I wouldnt have an advantage in the markets. never understood why they hold those "trading seminars".... if their technique is so good, why would they need to make money holding those things..... best to develop your own.

I'm not mad, and I'm not your son. You just keep patting yourself on the back. I guess you should be selling a book on your trading techniques by now. Where can I purchase that book?

The current MV is near $3M which is still ridiculous high as a CH7-Q
vs the similar CH11-Q has only $.9M MV! We should see sub penny soon

Thanks, yeah.. Borders was just awesome. The other one is bland like uncooked Tofu. Borders had books on anything fun, gardening, building a tree house, candlestick trading.. You name it.. Well almost anything. :)

The other must be run by the teachers in the Pink Floyd musical "The Wall"

Oh well. Can't think of any other great stores that shut down on this scale before that actually helped people seeking knowledge.

well they put boiler plate statements are in there for a reason; because its risky, and it is likely - it was possible though that they worked something out.... there is "value" in the possibility; thats why the call it upside - and its investable, rather for me, tradeable. it was possible a long could have a huge payday there if they did work something out. I never stated anything false. something sells low enough, any positive possibility can produce a gain in multiples. there was a posibility for BGPIQ.. not looking so good anymore though that the deal didnt work out-

VRMLQ was the best one I remember (now VRML of course) - said shares would be worthless- low and behold the FDA came out with an approval for a drug they had pretty much written off, it went from 4 cents to 20 bucks in a matter of weeks.

dont be mad son. I didnt declare this co would be successful, just said it had a chance, that the chart was primed for a quick double and that any news would make the chart pop.... no news and the chart popped anyway. dont be a hater. what I said would happen, did happen....what I said COULD happen, didnt. my bad

OK. I can't play them all. I just don't like to see chicken hawks spewing misinformation around to naive players. Looks like the boiler plate statement will prove correct, huh.

I took almost a 70% rip off her - you missed out on a good trade. glad I did take one. Averaged in just over .07; sell avg near .12- good stuff.

Im a chart trader, not an investor. chart looked great; people buy on speculation, buy the dip, sell the pop. keep sitting on the sidelines.

good luck to you

Glad I didn't take a position.

The party is over.

borders and the other one...sometimes its nice to go in those...maybe they should enlarge the computer usage areas...rent time like on the cruise ships or just give to folks free...i dunno...peoples got to get books somewhere.

Another new 52-week low 0.0022 was created today! 0.01 will hit soon

Borders Group Remaining Stores Closing

Borders Group announced that it will be closing its remaining 399 stores and terminating its remaining employee positions. The Company expects to out of business by September 2011. "Following the best efforts of all parties, we are saddened by this development," commented Borders president Mike Edwards. "We were all working hard toward a different outcome, but the head winds we have been facing for quite some time, including the rapidly changing book industry, [electronic reader] revolution and turbulent economy, have brought us to where we are now."

RIP Borders! My favorite book store ever.

Borders to Shut Down .

Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids.

The chain said it will ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.

.The liquidation of the company's remaining 399 stores could start as soon as Friday, and the chain is expected to go out of business for good by the end of September, the company said.

"Following the best efforts of all parties, we are saddened by this development," said Borders Group President Mike Edwards. "We were all working hard toward a different outcome, but the head winds we have been facing for quite some time, including the rapidly changing book industry, [electronic reader] revolution, and turbulent economy, have brought us to where we are now."

Borders's best chance for survival fell apart last week when talks with private-equity investor Jahm Najafi to buy the company collapsed. Borders's scrambled to find other buyers over the weekend, but no bids emerged that would save the chain.

news is bad,shareholders will have a tax wrightoff because of no value..

there not going to make it

Another new 52-week low .051 was created today! Is news good or bad?

i dunno ...dont follow it....just noticed the news

Do you have any idea why BGPIQ is trading at over $6M MV today with
such bad news (CH7 liquidation soon)? Even at the current low 0.052
the MV is still ridiculous high (near $4M)! I could not understand!

Borders fate to be decided this week
Jul 18 12:45 PM US/Eastern
By MAE ANDERSON
AP Retail Writer


NEW YORK (AP) - Borders Group is edging closer to extinction after no new bids surfaced in an auction process for the bookstore chain other than the opening bid from two liquidation firms.
Borders Group last week assigned the opening bid in its auction process set for Tuesday to two liquidation firms, Hilco Merchant Resources and Gordon Brothers Group. The move came after a bid fell through from a private equity firm that could have kept the chain a going concern. Creditors and landlords said liquidation was a better deal.

If no other bids materialize, the auction will be canceled and a final court approval hearing on the liquidators' bid will be held Thursday.

Borders filed for bankruptcy protection in February, hurt by competition from online retailers and discounters

The very bad news (CH11 soon converted to CH7) finally took BGPIQ to
the new low 0.055 so far! I bet the MMs already bailed out last week

Very strange! The very bad news pushed the price up today? I bet MMs
are manipulating the stock price up in order to get out with profit!

So the CH11 bankruptcy will soon be converted to the CH7 bankruptcy!
Which is very bad news for all the shareholders since nothing left!