Content about Borders Group Inc.

December 20, 2011
Borders win court approval of plan to dissolve

Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

New York City -- Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

The bankruptcy judge finalized terms of creditor repayments Tuesday after five remaining objections were resolved, the report said. Unsecured creditors with $812 million to $850 million in claims will recover from 4% to 10%, probably “at the higher end of the range,” according to court papers.
 

September 15, 2011
Borders names CFO to lead liquidation

A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Ann Arbor, Mich. -- A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Shah has been a director of Alix Partners, the firm providing financial restructuring and bankruptcy services to Borders.

Borders, which filed for Chapter 11 bankruptcy protection in February, is slated to close all stores effective Sunday, Sept. 18.

January 31, 2011
Borders stalls bill-paying to remain liquid

Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.

July 12, 2010
Borders to sell Paperchase unit to pay down debt

Borders Group Inc. said Tuesday it will sell its Paperchase Products Ltd. stationery subsidiary to...

July 8, 2010
Borders to offer five free books with e-book software

Borders Group Inc. said Friday it will offer five free books, including a Dean Koontz...

November 25, 2008
Report: Borders Off Selling Block

Borders Group Inc. on Tuesday reported a widening loss for the third quarter and said...

September 30, 2008
Borders Issues Warrants to Pershing Square Capitol

After failing to find a buyer, Borders Group Inc. has been forced to issue warrants...

August 26, 2008
Borders Narrows Loss for 2Q

Borders Group Inc. narrowed its losses and slashed its debt during the second quarter, but...

June 12, 2008
Investor: Borders Should Consider Amazon.com Deal

William Ackerman, the billionaire hedge fund manager who is a major stakeholder in Borders Group...

June 4, 2008
Borders to Sell Aussie, New Zealand Business

Borders Group Inc. said it will sell its businesses in Australia, New Zealand and Singapore...

May 27, 2008
Borders Group Loss Narrows in 1Q

Borders Group Inc. said its losses narrowed in the first quarter although its same-store sales...

May 26, 2008
Borders to Offer E-Commerce After Seven Years

Borders Group is jumping back into online retailing with a Web site after a seven-year...

May 21, 2008
Borders Group CEO Denies Sales Discussion

Borders Group Inc. has not had substantial discussions regarding a possible sale of the bookseller...

April 2, 2008
Borders Group to Delay Filing 10-K

Borders Group Inc. said Wednesday it will delay filing its annual report for fiscal 2007...

April 1, 2008
Borders Betting On Las Vegas

Borders Group Inc. will open its second new-concept store, at Town Square, Las Vegas, on...

March 11, 2008
Borders Ends Talks With Whitcoulls

Borders Group Inc. announced Wednesday that its talks with A&R Whitcoulls are over....

February 13, 2008
Borders Unveils New Concept Store

Borders Group Inc. unveiled a new look for its stores that brings more of the...

January 21, 2008
Borders Names VP, IT Delivery Services

Ann Arbor, Mich., ...

October 14, 2007
Borders Names Senior VP

Ann Arbor, Mich., ...

September 20, 2007
Borders Sells U.K., Ireland Subsidiaries

Ann Arbor, Mich., ...

September 18, 2007
Borders to Launch New Site

Ann Arbor, Mich., ...

August 16, 2005
Borders Profits Decrease Despite Harry Potter Debut

London, Although the...

July 25, 2005
Borders Picks Three Board Members

Ann Arbor, Mich., ...

January 24, 2005
Borders Names Exec to Bring Paperchase to U.S.

Ann Arbor, Mich., ...