Borders executive VP and chief merchant resigns
Ann Arbor, Mich. -- Borders Group executive VP and chief merchandising officer Michele Cloutier has resigned, Borders said in a late afternoon Friday filing with the U.S. Securities and Exchange Commission.
It is the latest in a string of high-level departures from the bookseller as it struggles to emerge from bankruptcy protection.
On Thursday, the company received a deadline extension until mid-October to file a plan to restructure. An attorney for Borders said parts of the company could be sold in as quickly as two weeks.