February 13, 2011

Borders poised for bankruptcy

Borders GroupImage via Wikipedia
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Bookstore chain whose UK arm went bust at the end of 2009 will bid to renegotiate debts in US under chapter 11 protection
Stricken US bookseller Borders, which has struggled with a long-term shift towards digital sales in the publishing industry, is poised to declare itself bankrupt after failing to reach a deal with bankers over liabilities of more than $1bn (£625m).
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