News Publishers Concerned That Borders Bookstores Will Fail
posted on 2011-05-18 08:21 EDT
The comics industry news site ICv2 reported on Monday that troubled bookstore chain Borders may be forced to close if no one attempts to purchase it. The publishing industry news site Publishers Weekly also reported that publishers are concerned that the chain will not be able to recover from bankruptcy without a fresh infusion of funds. To date, publishers have refused to work with Borders under regular business terms, after it delayed payments to the companies and then failed to convince the publishers to treat the missed payments as loans.
Borders met with publishers this morning in New York City. The results of the meeting have not yet been made public. Borders rival chain Barnes & Noble reportedly bid on 10 of Borders' stores, as well as the Borders.com online store and customer information. However, no bid has been made for the company in its entirety.