TITLE

Borders Delays Payments To Vendors

AUTHOR(S)
Burton, Paul
PUB. DATE
January 2011
SOURCE
High Yield Report;1/10/2011, Vol. 22 Issue 2, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of U.S.-based book retailer Borders Group in January 2011 to delay payments to some of its vendors amidst efforts to refinance its debt. According to company spokeswoman Mary Davis, the company has realized the necessity of restructuring its vendor financing scheme, hence the decision to delay payments to certain of its vendors. Competitors of Borders are Amazon.com, Wal-Mart Stores and Target Corp. Further, the company disclosed a 74.4 million U.S. dollar net loss in the third quarter of 2010.
ACCESSION #
57342570

 

Related Articles

  • As it awaits buyer, Borders loses money. DUGGAN, DANIEL // Crain's Detroit Business;6/27/2011, Vol. 27 Issue 26, p0022 

    The article reports that Ann Arbor, Michigan-based book retailer Borders Group Inc. posted a net loss of 35.4 million dollars in business revenue for May 2011 which indicates improvement over the 132 million dollars net loss in April as reflected on a financial statement filed with the U.S....

  • Borders to downsize Waldenbooks footprint.  // SCTWeek;11/13/2009, Vol. 14 Issue 45, p2 

    The article informs that Borders Group Inc. has decided to close down 200 of its Waldenbooks mall stores in January. According to the company, the aim is to emerge with a smaller, more profitable mall chain in fiscal 2010. It is stated that shutting down stores with operating losses would reduce...

  • BORDERS BY THE NUMBERS.  // Publishers Weekly;4/6/2009, Vol. 256 Issue 14, p6 

    The article presents Border Group-related statistics, including the amount of losses from continuing operations posted by Borders in 2008, the total debt of the company by the end of 2007 and the percentage decline of comparable-sales of its superstores in 2008.

  • Harry Potter magic boosts sales for Borders, but no help on profits. Harrison, Sheena // Crain's Detroit Business;9/3/2007, Vol. 23 Issue 36, p4 

    The article reports that sales of the book "Harry Potter and the Deathly Hallows" has increased same-store sales for Borders Group Inc. in the second quarter, but it failed to recover the business losses of the bookseller. It is reported that for the year-to-date, Borders reported a net loss of...

  • MUSIC CARRIES LITTLE WEIGHT AT BOOKSTORES. Christman, Ed // Billboard;12/3/2005, Vol. 117 Issue 49, p21 

    This article reports on the sales performance of record stores in the U.S. in 2005. Borders Group reported a net loss of $14.1 million, on sales of $840 million for the company's fiscal third quarter which ended October 22. Borders Group is still projecting earnings in the range of $1.28 to...

  • Borders Group Sees Soft Year--End. Milliot, Jim // Publishers Weekly;10/18/2004, Vol. 251 Issue 42, p5 

    Reports on the announcement by Borders Group that its sales for the third quarter ending October 31, 2004 will not meet expectations and that sales in the fourth quarter is below last year's fourth quarter on a comparable-store basis. Projected net loss for the third quarter; Expected sales of...

  • GERON REPORTS 2010 2ND QTR NET LOSS OF $17 MILLION.  // Biotech Financial Reports;Sep2010, Vol. 17 Issue 9, p1 

    The article reports on the net loss experienced by Menlo Park, California-based Geron Corp. during the second quarter of 2010. It states that the net loss has reached 17 million dollars to common stockholders or 0.18 dollars per share as of June 30, 2010. Moreover, it stresses that the company...

  • Court helps Eurotunnel cut losses.  // Commercial Motor;9/6/2007, Vol. 206 Issue 5245, p7 

    The article reports on the net losses posted by channel tunnel operator Eurotunnel for the six months ended June 2007. Net losses for the period were €32 million, compared with €105 million in the same period last 2006. One of the reasons for the smaller loss was that Eurotunnel was...

  • ASTA FUNDING REPORTS $7.8 MILLION NET LOSS.  // CardLine;3/6/2009, Vol. 9 Issue 10, p7 

    The article reports the net loss of $7.8 million for the fiscal first quarter ended Dec. 31 by an asset-management company, Asta Funding Inc. Asta reported first-quarter total revenue of $18.4 million, a 46.4% decrease from $34.3 million a year earlier. Chief executive Officer of Asta, Gary...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics