Borders Files For Bankruptcy Protection With $1.29 Billion Debt-Bloomberg
February 16 2011 - 6:53AM
Dow Jones News
Borders Group Inc. (BGP) filed for bankruptcy protection in New
York Wednesday after various measures it took failed to make up for
sagging sales in the face of competition from Amazon.com Inc.
(AMZN) and Wal-Mart Stores Inc. (WMT), Bloomberg reported on its
website.
Ann Arbor-based Borders reported its last annual profit in 2006.
In its filing in U.S. Bankruptcy Court in Manhattan, the company
listed debt of $1.29 billion and assets of $1.28 billion.
Full story at
http://www.bloomberg.com/news/2011-02-16/borders-book-chain-files-for-bankruptcy-protection-with-1-29-billion-debt.html
-Dow Jones Newswires; 212-416-2900
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