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When it filed for bankruptcy protection in February, Borders owed $272 million to its 30 largest unsecured creditors, including Penguin Group USA, Hachette Book Group, Simon & Schuster, Random House, HarperCollins and Macmillan. Most publishers were unwilling to restore normal trade terms to Borders after the bankruptcy filing and insisted on being paid for books in cash and in advance.
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Too bad the news isn't about Penguin, Hachette, Random House, Harper Collins and Macmillan and agency pricing. Maybe the next "they didn't know how to manage their business story"?
Now that would be poetic justice.