Thursday, January 6, 2011

Borders Group Bankruptcy or Merger Probably Inevitable, Says University of Michigan Prof

AnnArbor: "A top bankruptcy expert at the University of Michigan Law School said recent events indicate Ann Arbor-based Borders Group Inc. is toppling toward a bankruptcy filing or a merger with competitor Barnes & Noble. 'One of those things will happen within the next few months,' U-M law professor John Pottow, a national bankruptcy expert, said in an interview. 'The amount of losses they’re incurring is not something where they can avoid (restructuring)'"