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U.S. markets recover from steep losses
ANN ARBOR, Mich., Jan. 24 (UPI) -- U.S. bookseller Borders Group Inc. said Monday it would sell its kiosk business Day by Day Calendar Co. for an undisclosed sum.
The sale involves 420 kiosk retail outlets, which will be purchased by a Texas company, Calendar Holdings LLC, The Detroit News reported.
The sale could provide Borders with cash while the company works with creditors to restructure its debt. Borders announced this month it would lay off 370 workers as sales are decreasing with increased pressure from the Internet and other non-traditional reading options, such as digital book sales.
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