Borders Headed for Bankruptcy…by Christmas?
Borders bookstore, an extremely popular bookstore is cash-strapped. So much so that it may not have the cash to make it through the Christmas season. If it can’t make it through the busiest shopping season of the year, when can it survive? The cause for the bookstore giant’s woes is due, of course, to the lagging economy as well as increased competition from grocery stores. A slew of buyers has been considered but so far there are no takers. It’s difficult to see a way out considering they have to go through stronger online competitors and a tight credit market to get there.
More information of their considerably stormy outlook at Britain’s The Daily Telegraph.
