Borders in trouble, delays payment to publishers

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Borders in trouble, delays payment to publishers

Jan 04 2011

Borders Group, which has suffered several years of sales declines, layoffs, store closings, a revolving door at the executive level, a plummeting stock price and unsuitable ownership, hit a new low this past week: the company began delaying payments to some suppliers, including at least several major publishers. Many people in the industry fear that the bookseller and its 676 stores might close--and cause a nasty ripple effect on the book business, which overall had its first solid holiday season in at least three years....

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