Borders headed for chapter submitting, in line with WSJ
Borders Group, Inc. is ending up preparations for a chapter submitting, in response to “individuals accustomed to the matter.” The corporate’s monetary troubles have been no secret as of late, and those self same individuals conversant in such issues say that the submitting might come as early as subsequent Monday, which shall be adopted by the closure of roughly 200 of its brick and mortar shops, and loads of job losses. Borders has struggled with its digital presence, together with its lack of e-reader (the Kobo partnership got here fairly late within the recreation and is not actually on the identical degree as Barnes and Noble’s Nook or Amazon’s Kindle), and its failure to snag a big market share of on-line gross sales. The individuals conversant in the matter warning that the submitting might be delayed by a number of days, nevertheless, so we’ll have to take a seat on the sides of our seats till someday subsequent week, in all probability. Hit the supply for extra monetary particulars.