Friday, February 11, 2011

Borders Group (NYSE: BGP): Now On Bankruptcy Watch

Shares of Borders Group, Inc. (NYSE: BGP) sank as much as 22% on Friday after Wall Street Journal reported that the company could file for Chapter 11 bankruptcy protection either Monday or Tuesday next week. As part of the restructuring, the company will close around 200 stores. Borders had recently received a $550 million lifeline to help it restructure from GE Capital (NYSE: GE). Stay tuned for more.

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