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A Borders bookstore at North and Halsted in Chicago in February. (Brian Cassella/Chicago Tribune)
Borders Group Inc. plans to close an additional 28 stores, bringing the total closings to 228, as it tries to reorganize in bankruptcy protection.
The updated list includes a store in Wilmette. Get the full story »
Borders Group has received a commitment for a $550 million credit line from GE Capital, a lifeline that will help the struggling bookseller pay its vendors and stay afloat – but it indicated that bankruptcy protection might still be an option.
Its shares jumped 28 percent in after-hours trading on the news. Get the full story »
Borders Group Inc. has agreed to sell its Day by Day Calendar Co. business to Texas company Calendar Holdings LLC, the Detroit News reported online Monday, citing the Michigan-based book retailer.
Terms weren’t disclosed.
Borders has been negotiating with lenders and publishers to restructure debt and vendor payments. This month, the retailer said it planned to eliminate more than 300 jobs this year.
