Borders Books

Borders free radical Inc., the second- biggest U.S. light-emitting diodegerstore chain, filed for nonstarter in New Yorktoday aft(prenominal) anxiety changes, job cuts and debt restructuring failed to make up for sagging book sales in the face of com predication from Amazon.com Inc. and Wal-Mart Stores Inc. Borders plans to keep operate and reconstitute with $505 million in so-called debtor-in-possession financing from lenders led by GE detonator, according to a statement. The 40-year-old chain listed debt of $1.29 one molar concentration million and assets of $1.28 billion as of Dec. 25 in its Chapter 11 petition filed today in U.S. Bankruptcy Court in Manhattan. attach image Borders Files Bankruptcy at last Up to 275 Stores Jeff Kowalsky/Bloomberg A stop residence stands in front of a Borders throng Inc. bookstore that unlikable last month in Farmington Hills, Michigan. A stop hall stands in front of a Borders convention Inc. bookstore that close last month in Farmington Hills, Michigan. photographer: Jeff Kowalsky/Bloomberg Feb. 16 (Bloomberg) -- Michael Norris, elderly analyst at Simba Information Inc., discusses the expectation for Borders Group Inc. chase its chapter 11 filing. Borders, the second-biggest U.S.

bookstore chain that filed for bankruptcy today, received a financing commitment from GE cracking and investment firms Tennenbaum Capital Partners, LLC, a unit of Stone tug Capital, LLC and GB merchant Partners, LLC for $505 million in bankruptcy loans. Norris speaks with discern Crumpton on Bloomberg Televisions tush Line. (Source: Bloomberg) Enlarg e image Borders Files Bankruptcy Closing Up! to 275 Stores Jeff Kowalsky/Bloomberg A Borders Group Inc. bookstore that unkindly last month stands in Farmington Hills, Michigan. A Borders Group Inc. bookstore that closed last month stands in Farmington Hills, Michigan. Photographer: Jeff Kowalsky/Bloomberg The reorganization is exclusively possible if Borders immediately closes two hundred of its 642 stores, according to an apprehension motion to sell furniture and...If you lack to get a full essay, order it on our website: OrderCustomPaper.com

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