Borders bookstores poised for bankruptcy

posted by
February 13, 2011
Guardian [UK]    
Posted in News

"Stricken US bookseller Borders, which has struggled with a long-term shift towards digital sales in the publishing industry, is poised to declare itself bankrupt after failing to reach a deal with bankers over liabilities of more than $1bn (£625m). Shares in Borders dived 32% on Wall Street on Friday as reports emerged of a chapter 11 bankruptcy filing as early as [Monday] or Tuesday. The prospect of insolvency at the chain, which has 674 US stores employing 19,500 people, comes 14 months after Borders' UK arm went bust, with a loss of 1,100 jobs." (02/13/11)

http://tinyurl.com/6l5sg57  

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