WATCH CBS NEWS VIDEO: DNC NEWS AND ANALYSIS LIVE COVERAGE

Bankruptcy Looms For Borders Group

ANN ARBOR (WWJ) Bankruptcy is definitely in the future for Ann Arbor based Borders Group, the nation’s second largest bookstore chain.

WWJ NewsRadio 950’s Ron Sanford reports that Borders may file for bankruptcy protection as soon as next week.

Crain’s Detroit Business reports that at least 150 of 650 stores will be closed but no projections have been made on how many employees will be laid off as a result.

Borders announced last month that payments to their publishers would be delayed in order to put together a credit package.

Borders has been promised a financial infusion that’s dependant on a program to close stores.

Click here for related story.

Comments

More From CBS Detroit

Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.
Hump Day Drinks: 8 Cheery Cocktail RecipesNow that you've made it through half the work week, it's time to celebrate!

Watch & Listen