Borders could file for bankruptcy as early as next week

Bloomberg have a source inside Borders HQ, and they heard this juicy rumor:

Borders Group Inc., the second- largest U.S. bookstore chain, may file for protection from creditors as soon as next week, according to three people familiar with the matter.

The retailer will likely close at least 150 stores, one person said. The people declined to be identified because the proceedings aren’t public.

I have to say that I don't see how this qualifies as a rumor; I'd say it's a prediction. What with the unpaid suppliers, the unpaid landlords, and the fact Borders are low on cash, my guess is that Borders might file for bankruptcy protection this week, not next.

image by reinvented

About Nate Hoffelder (11372 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader: "I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

1 Comment on Borders could file for bankruptcy as early as next week

  1. I guess it would be a rumor if he heard from his job that it they were filing. Otherwise, I see your point.

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