![]() ![]() Borders has some 19,500 employees in slightly more than 500 superstores and about 165 smaller stores, mostly in malls and airports.īooks & Books plans to open its eighth location-the Newsstand Café by Books & Books-at the redesigned plaza of the Wachovia Financial Center in downtown Miami sometime between mid-February and early March. It has also said it is considering "in-court restructuring," i.e. This past Sunday Borders announced that it is delaying January payments to "certain parties-vendors, landlords and others" ( Shelf Awareness, January 31, 2011). Bloomberg also said that "several private equity groups are weighing whether to provide a junior loan" to Borders. At the same time, Barnes & Noble rose 7.4%, to $16.92. ![]() The company's market capitalization is just under $34 million. Volume yesterday was three times the usual. Late yesterday Bloomberg reported that Borders Group plans to file for bankruptcy protection as soon as next week and will likely close at least 150 stores, "according to three people familiar with the matter." As a result, Borders stock plummeted 36%, to 47 cents a share, a 52-week low and near its historical low in late 2008 during the financial meltdown. ![]()
0 Comments
Leave a Reply. |