Borders Bankruptcy may be Inevitable

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Bankruptcy expert Professor John Pottow said in an interview that either Borders Group Inc. will file for bankruptcy protection or merge with competitor Barnes & Noble. The well-known bookstore lost $74.4 million in the third quarter of 2010 and is presently seeking new sources of financing while negotiating with creditors to restructure payment agreements.

The situation is critical as Borders enters the period of the year that bookshop chains dread the most – the post-holiday buying period. If they fail in securing new financing, it may affect their ability to honor their present credit agreements in the first quarter of 2011.

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Tampa Bay Bankruptcy Center, P.A. on:

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