Friday, January 7, 2011

Borders Group in Talks With Restructuring Advisers

WSJ: "As Borders Group Inc. asks publishers for leniency on paying bills, the bookstore chain has been in discussions with restructuring advisers about ways to rework its debt-heavy balance sheet, said people familiar with the matter. Borders has been in talks with Wall Street firms that have worked on many high-profile bankruptcies and other types of restructuring deals, the people said. Restructuring advisers at investment bank Jefferies & Co. are among those in talks to represent the struggling book retailer and advise it on reworking its debt load, the people said."