Bankruptcy News - January 01, 2011


Bookstore chain Borders has announced that they are delaying payments to their publishers. Could this be a sign of imminent bankruptcy? It’s anyone’s guess.

Borders has been taking steps to find new financing sources in order to keep the terms of their credit agreements but without much success so far. Borders company spokeswoman Mary Davis said the company is currently working with its publishers to restructure their payment arrangements. Presently, publishers Borders with their books and only get paid later according to the terms of the agreements. The publishers are also liable for returned books after receiving payments.

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