Beginning as early as the end of the week, 6,000 Borders employees will be out work, and publishers will likely lose millions of dollars in bad debt. Hardest hit will be “midlist” authors — those whose books aren’t bestsellers…
Borders says it will postpone January payments to many vendors to conserve cash, though the move may do no more than delay a prepackaged bankruptcy or breakup of the company.
Continue reading Borders Delays Pa…
The country’s second-largest book retailer had been counting on a Christmas miracle to rescue it from deep financial doldrums. But the holiday season played Scrooge instead. Now, confronting a liquidity shortfall, a bankruptcy …