Thread: Refinancing Borders
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Old 01-15-2011, 09:01 AM   #8
fjtorres
Grand Sorcerer
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They're looking for US$500 million in refinancing from GE Capital:
http://www.msnbc.msn.com/id/41084574...s-us_business/

Quote:
Borders hopes the new financing can provide a bridge for the company over the next six to 12 months while it rearranges its business, the source said.

Borders and its main bricks-and-mortar competitor, Barnes & Noble Inc., are trying to show they can replace the sales lost to online purchase giant Amazon.com. Borders is in worse shape, closing hundreds of stores in 2010 and bleeding red ink on the ledger faster than it can dry.
Half a billion just to survive the next six months...
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