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3 More Executives at Borders Store Chain Resign

posted on 2011-01-05 22:15 EST

Three more top executives of national media store chain Borders left the company this week: Senior Vice President Business Development Larry Norton, Vice President Real Estate Tony Grant, and Senior Vice President of Marketing Bill Dandy. They join former Executive Vice President/General Counsel Thomas Carney and former Senior Vice President/Chief Information Officer D. Scott Laverty, who all left Borders earlier in the week.

This string of resignations are happening in parallel with the financial troubles that the bookstore chain is having with its publishers. Borders representatives are meeting with major New York publishers this week to negotiate new terms. The Wall Street Journal newspaper explains that Borders is asking these publishers to push back due dates of bills, giving the company time to refinance.

The Publishers Weekly magazine reports that the rival company Barnes & Noble is asking the same publishers for equal treatment for itself and other booksellers.

Borders operates nearly 700 stores nationwide.

Source: ICv2


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