News Publishers Weekly: Borders Bookstore Chain May Be Sold
posted on 2011-05-09 22:22 EDT
The Publishers Weekly industry news source reports that the likelihood of Borders being sold has increased since Borders is requesting court approval to sell assets valued below US$1 million without liens. However, the report also states that the telecommunications company Verizon will object to the request out of concern that Borders may attempt to sell equipment that Verizon leased to the bookstore chain.
The financial news site The Street recently held an online poll asking its readers which of five retailers — determined by Edward Altman's "Z-score" of projected likelihood of bankruptcy within two years — was most likely to go bankrupt next. 31.1% of the respondents selected the rival bookstore chain Barnes & Noble. (The other four retailers, from most votes to least, were the American Apparel store chain at 26.8%, the Rite Aid pharmacy chain at 23.9%, the Zale jewelry chain at 12%, and the Supervalu grocery chain at 6.1%.)
[The Street poll via ICv2]