Borders on Brink of Bankruptcy

Chain expected to slash up to 200 stores
By Rob Quinn,  Newser Staff
Posted Feb 2, 2011 1:22 AM CST
Borders on Brink of Bankruptcy
Borders disclosed late last year that lenders had cut its borrowing capacity and it was seeking replacement credit.   (AP Photo/Michael Dwyer, File)

Struggling bookstore chain Borders may file for bankruptcy protection as early as next week, sources tell Bloomberg. The chain is still looking at its options for restructuring ahead of a bankruptcy filing, and is considering closing up to 200 of its 650 stores, the sources say. The chain, which was slow to embrace digital reading has posted almost $800 million in losses since 2006. Analysts named it among 10 companies unlikely to make it to 2012. Click here for that story.
(More Borders stories.)

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