Monday, January 31, 2011

Deathwatch Episode 147: Borders to Delay January Payments

I will only attend the funeral if a lunch is served. "Cash-strapped Borders Group Inc. said Sunday that it will delay January payments to vendors, landlords and others, as indications grow that the bookseller could be headed for bankruptcy court. The No. 2 U.S. bookstore chain said the move was intended to preserve liquidity as it works to restructure its finances. The company said it 'understands the impact of its decision on the affected parties,' but wants to work with creditors and others to bolster its prospects. ... "