Report: Borders preparing Chapter 11 filing

By Reuters
Posted Feb. 11 at 3:26 p.m.

Bookseller Borders Group Inc. could file for bankruptcy as soon as Monday or Tuesday, the Wall Street Journal reported Friday, citing people familiar with the matter.

The company is in the final stages of preparing a bankruptcy filing after failing to persuade publishers and others to go along with a plan to restructure its debt, the paper reported.

“There have been constant inquiries by reporters and stories written regarding whether Borders is considering a Chapter 11 filing. Borders is not prepared at this time to report on the course of action that it will pursue,” said Mary Davis, a spokeswoman for Borders.

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One comment:

  1. Leroy Washington Feb. 12 at 12:29 a.m.

    Borders sucks. This is great news! Made my day.