Borders US applies for Chapter 11 bankruptcy

Written By: Graeme Neill Publication Date: Wed, 16/02/2011 - 12:30 Borders US has filed for Chapter 11 bankruptcy, blaming a decrease in consumer spending, a lack of liquidity and ongoing discussions with publishers. The widely expected move will mean Borders will try to restructure its business while continuing to trade online and in store. Among the initiatives that it is proposing, which require court approval, is to close around 30% of its underperforming stores. read more Continue reading at 'The Bookseller'

[ The Bookseller | 2011-02-16 00:00:00 UTC ]
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