Ann Arbor-based Borders Group Inc. believes it has "a few weeks" to find a buyer that would continue to operate the company, according to a Bloomberg report published late today.

The company has fielded several bids for parts of the bookstore chain but none for the entire thing, Bloomberg reported, citing four anonymous sources.

A failure to find an interested buyer — such as a private equity firm or another bookstore chain — does not mean the company would be forced to liquidate.

Mike Edwards, CEO of Borders Group subsidiary Borders Inc., told AnnArbor.com last week that the company is aiming to emerge from bankruptcy in September as long as it can convince publishers to agree to new terms for continued shipments of books.

But, if the publishers balk and no outside entity steps in to buy the company, Borders could be forced to liquidate — an option experts have considered possible for months.

"The lack of offers for the whole chain may spell the end," Bloomberg reported.

Borders, in a statement released to AnnArbor.com earlier this week, declined to offer details on a Publishers Weekly report that the company has received some interest from outside companies.

“We are focused on moving forward with the execution of our business plan," spokeswoman Mary Davis said in an e-mail. "We are continuing to evaluate interest in the company as expressed through the ongoing Chapter 11 process."

Borders, launched 40 years ago as an 800-square-foot store on South State Street, employs fewer than 400 workers at its Ann Arbor headquarters. The company is closing about 230 superstores as part of its Chapter 11 bankruptcy.

Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.