Borders articles


Borders US: What we hear and need to hear

Borders US: What we hear and need to hear

Today was one of those days at the office. You know the ones. Nothing seems to stir beyond the hum-drum, and then, all of a sudden, the floodgates open. No. Today’s news that the economic doctor – with defibrillator in hand – had finally glanced up at the clock and called the ‘time of death’


Borders US Files for Bankruptcy with $1.29 Billion Debts (Updated)

Borders US formally applied for bankruptcy under Chapter 11 protection in the New York courts this morning. Borders listed debts of $1.29 billion and assets of $1.275 billion in documentation lodged with the court. Unsecured creditors listed include many book publishers and distributors, estimated to be owed $230 million. [Publishers Weekly] UPDATE (5PM, GMT): Publishing


Borders Group US Open e-Bookstore

This morning Borders Group USA opened the proverbial electronic doors on its new e-bookstore, entering a highly competitive market with rivals Barnes & Noble e-bookstore, the Amazon Kindle store and Apple’s iBookstore. The Borders e-bookstore is set to offer 1.5 million titles, including some free books, with Borders Inc. president, Mike Edwards, saying he hoped


Borders Group Lifted By $25m Investment

Vector Group Ltd will invest $25 million in Borders Group US through a private purchase of 11.1 million shares of stock. The move is intended to develop and improve the Borders brand, which has experience a difficult period of trading over the past eighteen months. From today’s press release: “ANN ARBOR, Mich., May 21, 2010 /PRNewswire via


Confirmed: GE Capital Secure Term Loan For Borders Group US Survival

Just released on the newswires: ANN ARBOR, Mich., March 31, 2010 /PRNewswire via COMTEX/ — Borders Group, Inc. today announced that it has entered into an amended and restated revolving credit agreement. The new, $700 million senior secured asset-based credit facility matures in March 2014 and replaces the company’s existing revolving credit agreement, which would


Borders US Set To Make Fools’ Day Deadline

Borders Group US are facing D-day on April 1st. A substantial loan of $42.5m secured two years ago from Pershing Square Capital for the refurbishment of retail stores and an IT upgrade is due to be repaid on Thursday, this week. A number of reliable financial sources, including Bloomberg US, are reporting late Tuesday evening that a


Canada’s Top Indie Retailer Files For Bankruptcy Protection

2009 brought an end to independent book retailer Borders UK and its 45 stores. On the eve of 2010, Canadian independent retailer McNally Robinson has filed for bankruptcy protection in the courts. The family-owned business has run bookstores in Canada since 1969 and they still remain hopeful of being allowed to commence financial restructuring to