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Borders could file for bankruptcy as early as next week

Bloomberg has  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 is low on cash, my guess is that Borders might file for bankruptcy protection this week, not next.

image by reinvented

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Zigwalski February 1, 2011 um 9:59 pm

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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