Posts Tagged ‘Borders’

Borders Group, the second-largest book chain in the United States, reported a loss of $132.3 million in April, its second full month in bankruptcy. That figure follows on the $52.6 million loss reported in February and March as the bookseller sought Chapter 11 protection and began liquidating 226 locations

Borders Group, the second-largest book chain in the United States, filed for bankruptcy protection this morning, announcing plans to close about 192 of its 639 Borders, Waldenbooks, Borders Express and Borders Outlet locations over the next several weeks. It’s unclear how many of the company’s 6,100 full-time and 11,400 part-time employees will be affected by the closings. Borders, which listed $1.29 billion in debt and $1.27 billion in assets, plans to continue to operate through the court process with the help of $505 million in financing from lenders led by G.E. Capital.