Legal

Borders Group will name a stalking horse bidder by July 1 and is looking to complete the sale of all its assets by the end of July. In court papers filed, the company was encouraged that one of the parties it's presently negotiating with will emerge as the successful buyer on a going concern basis.

Macy's workers will remain on the job after the retail giant reached a tentative deal with its union Thursday morning after a marathon bargaining session. "Following an all-night negotiating session, Macy's is pleased to have reached a tentative agreement with Local 1-S of the RWDSU on a new five-year agreement," Macy's spokeswoman Elina Kazan said in a statement.

Borders, the bankrupt bookstore chain, has reached agreements with landlords to extend leases on 11 stores it had listed for possible closure, and it said it's in talks with creditors that could delay any going-out-of-business sales.

Retail crime and fraud continue to cost retailers more money every year, according to a new survey released at this week's National Retail Federation Loss Prevention Conference and EXPO. The survey, jointly conducted by the NRF and the University of Florida, revealed total retail losses cost retailers $37.1 billion last year, up from $33.5 billion in 2009.

The Texas legislature has acted to do away with any question that the mere use of a web-hosting company with a server in Texas might result in a Texas sales tax collection obligation. Both houses passed a bill that's now headed to Gov. Rick Perry, who's expected to sign it into law.

Catalog and internet retailer Signature Styles — owner of Spiegel, Newport News and Shape Fx — filed for bankruptcy in a Delaware court this week. The company listed assets in the $10 million to $50 million range and debt in the $50 million to $100 million range in its Chapter 11 petition. Signature Styles Gift Cards, an affiliate brand, was also included in the bankruptcy filing.

Matthew Shay, president and CEO of the National Retail Federation, issued a statement in which he called the Senate rejection of the Tester-Corker amendment to delay swipe fee reform, "a landmark victory for American consumers."

A report released this week by Bloomberg said that Barnes & Noble has filed suit against LSI Corp. to prevent the chipmaker from demanding patent royalties on sales of the bookseller’s Nook digital reader.

Walgreens announced it's completed the acquisition of drugstore.com. The transaction includes all websites directly owned and operated by drugstore.com, as well as its corporate office and customer service and distribution center operations.

Children's clothing retailer Hartstrings L.L.C., owned by Maryland private-equity firm American Capital L.P., has declared Chapter 7 bankruptcy.