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Borders%20Group<%2Fa>%20does%20not%20have%20the%20capital%20resources%20it%20needs%20to%20be%20a%20viable%20competitor%20and%20which%20are%20essential%20for%20it%20to%20move%20forward%20with%20its%20business%20strategy%20to%20reposition%20itself%20successfully%20for%20the%20long%20term.%0D%0A%0D%0Ahttps%3A%2F%2Fwww.bookbusinessmag.com%2Farticle%2Fborders-group-files-chapter-11%2F" target="_blank" class="email" data-post-id="5712" type="icon_link">
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"In this regard, operating under Chapter 11, Borders has received commitments for $505 million in Debtor-in-Possession (DIP) financing led by GE Capital, Restructuring Finance. This financing should enable Borders to meet its obligations going forward so that our stores continue to be competitive for customers in terms of goods, services and the shopping experience. It also affords Borders the opportunity to move forward in implementing the appropriate business strategy designed to reposition Borders to be a potentially vibrant, national retailer of books and other products," Mr. Edwards emphasized.
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