Tuesday, January 4, 2011

Borders Delays Paying Publishers, Sets Meetings with Publishers For Later This Week

NY Times: "On Monday, Borders executives said they would discuss the company’s plans with publishers at hastily arranged meetings in New York later this week. Mike Edwards, the president and chief executive of Borders, will be present at the meetings, said Mary Davis, a spokeswoman for Borders. ... If the bookseller were to go out of business, publishers could lose tens of millions of dollars, miles of shelf space and the selling power of more than 675 retail stores. Industry analysts said a bankruptcy filing from Borders seemed more likely than ever. ... "