The Gores Group, an investment firm headed by Alec Gores, has expressed an interest in purchasing half of Borders’ 405 brick and mortar stores.
According to The Wall Street Journal, this investment would allow Borders to continue to operate its business mostly intact. The called the Gores Group a “distressed investor”–a firm that buys ailing companies and rebuilds them.
Here’s more from the investor’s site description: “Since its inception, Gores has acquired 60 companies worldwide with combined revenues in excess of 15 billion dollars. Currently, Gores has 2.7 billion dollars in equity under active management.”
Last year, The Los Angeles Times speculated that Alec and his brothers, Platinum Equity firm CEO Tom Gores and Paradigm talent agency founder Sam Gores, were teaming up to create their own media empire. Recent acquisitions include distributor Alliance Entertainment and radio programming company Westwood One. In the past, they also attempted to buy Hollywood movie studio Miramax. (via Publishers Weekly)