The WSJ’s source says that both Najafi and Gores are focused on the 265 remaining Borders superstores, and both are seeking to buy Borders’ website and customer lists. The same source said that Gores would shift Borders toward an online retail model, while details of Najafi’s strategy for the company remain unclear.

The source said that Borders hopes to select one of the private equity firms to make a starting bid soon. The WSJ previously reported that the Gores Group deal would be worth about $200 million, but did not mention the size of a possible bid by Najafi.

Najafi was founded by Jahm Najafi in 2002. In 2008, it bought Direct Brands, a direct marketing music, DVD and book club company with brands including BMG, Columbia House DVD, and several book clubs including Book of the Month Club and Doubleday Book Club, and other book clubs. Najafi’s website notes that it “funds investments with internally generated capital, not through a fund,” which would allow it to buy Borders stores quickly.

Borders filed for bankruptcy in February. Last week, it was granted four more months to submit a turnaround plan. At the same hearing, Borders attorney Andrew K. Glenn of Kasowitz Benson Torres & Friedman said that “multiple parties” were interested in buying most or all of Borders’ remaining stores and that he hoped to conclude the sales process within two to four weeks. Glenn also intimated that someone on Borders’ creditors committee, which includes major book publishers, had leaked the news about The Gores Group to the Wall Street Journal (NSDQ: NWS), which a creditors committee attorney denied.

Borders creditors had objected to the extension, saying that the company had been losing too much money since it filed for bankruptcy on February 16, even though it’s closed over 226 stores in that time.

Last night, the WSJ reported that private equity firm The Gores Group is considering making an offer to buy about 200 of the chain’s remaining 405 stores for around $200 million. At the hearing today, Borders attorney Andrew K. Glenn, of Kasowitz Benson Torres & Friedman, said that other buyers for the the majority of the chain’s remaining stores have also emerged, and that he expects to file a motion to sell it within two to four weeks. However, he said that the company has not abandoned a standalone reorganization plan.

Glenn intimated that the creditors committee had leaked Gores Groups’ offer, Publishers Weekly reports: “One of the buyers met with the Creditors Committee and then we see there are news stories in the Wall Street Journal…we’re getting slaughtered in the press,” he said. A creditors committee attorney, Bruce Buechler, denied a leak and said that the creditors are “not looking to hijack the process.”