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This is hardly a surprise. The question was not if Borders would file for bankruptcy, but when. They are basically out of options.
I do note that the offer by the hedge fund that owns about 40% of Borders to help find the money for Borders to acquire Barnes and Noble seems to have evaporated. No surprise there, either: I couldn't see them providing the funding alone, but couldn't imagine why anyone else might pony up.
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Dennis
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