MobileRead Forums - View Single Post - Bloomberg: Borders May file for Bankruptcy

fjtorres · 02-02-2011, 07:44 AM

http://www.bloomberg.com/news/2011-0...next-week.html

The promised $550M funding from GE Capital is contingent on Borders getting $300M worth of concessions from publishers and creditors.

In a sign of how likely that is, Borders is preparing to file for Chapter 11 and close 150 of their 650 stores.

Borders stock dropped 26%, B&N stock moved up 7%.

The death spiral moves to the next level as Borders' staring contest isn't making anybody blink just yet.

02-02-2011, 07:44 AM	#1
fjtorres Grand Sorcerer Posts: 11,732 Karma: 128354696 Join Date: May 2009 Location: 26 kly from Sgr A* Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000	Bloomberg: Borders May file for Bankruptcy http://www.bloomberg.com/news/2011-0...next-week.html The promised $550M funding from GE Capital is contingent on Borders getting $300M worth of concessions from publishers and creditors. In a sign of how likely that is, Borders is preparing to file for Chapter 11 and close 150 of their 650 stores. Borders stock dropped 26%, B&N stock moved up 7%. The death spiral moves to the next level as Borders' staring contest isn't making anybody blink just yet. Last edited by Dr. Drib; 02-02-2011 at 08:31 AM. Reason: Added "May"