Borders asks permission to sell stores to rival

Borders is seeking permission to sell 30 to 35 of its stores to bookstore chain Books-a- Million.

Border said previously that an unnamed bidder was seeking to buy the leases and assets of 30 Borders stores. It named Books-a- Million as the bidder during a hearing at the U.S. Bankruptcy Court for the Southern District of New York on Thursday.

A judge is expected to rule on the matter as well as Borders plan to liquidate its remaining stores later on Thursday.