Borders Stalling Payments To Book Publishers

Posted Dec 31, 2010

Borders Group, Inc. (NYSE:BGP) has been delaying payments to book publishers. This indicates that Borders may be losing a battle to the popularity of e-books. Borders is delaying payments so that they could refinance their debt. Borders may have to break their existing credit deals in 2011 after facing a “liquidity shortfall” said the company. In the company’s most recent quarter, they lost $74.4 million. [Electronista]