Judge Martin Glenn

Borders Group Inc. (BGP) asked a bankruptcy judge to overrule landlords’ objections to the proposed sale of the bookstore chain’s assets and promised to provide more information about leases by next week.

Borders is trying to resolve objections from landlords at several locations, the company said in papers filed yesterday in U.S. Bankruptcy Court in Manhattan. The structure of the $215.1 million sale to Najafi Cos., which still requires an auction to test for higher bids, is set to go before U.S. Bankruptcy Judge Martin Glenn tomorrow.

Is Borders saved? The Gores Group, a Los Angeles-based private equity firm that often invests in distressed companies and has hopes to build an entertainment conglomerate, has emerged as a possible bidder for 200 of the bookstore chain’s remaining 405 stores in a deal worth about $200 million, the WSJ reports. The talks “remain fluid and could fall apart.”

Today’s Borders’s hearing was a rather routine affair until lawyers for both sides approached the bench after Judge Martin Glenn asked for an update on where things stood. After returning from a brief meeting out of earshot from those listening on the phone, the judge adjourned the hearing. Speculation is that the attorneys were updating the judge on whether any bids for the company were made on Friday.