#1

It's not just the Borders bookstore in Syracuse. Borders corporate is making an attempt to survive

in Welcome to the Forum ! Tue Dec 30, 2014 2:13 am
by zheng • 3 Posts

Mark Lenihan / APShoppers browse a Borders bookstore in Manhattan Brooks Orpik Jersey.<!-- IE6 HACK --><!-- IE6 HACK --><P>Syracuse, NY -- It truly is not just us, Carousel Center mall or that Borders retailer in certain. Certain, Central New York's only Borders bookstore is closing in March. Its lease expired, the keep was extended overdue for an overhaul and now, there are previously strategies for most of the space. But as for Borders corporate, there's so a lot much more. Go through on...</P><BR><P>From The New York Instances:</P><BR><P>Borders Gets $550 Million Loan Dedication</P><BR><P>Borders Group, the struggling bookseller, explained on Thursday that it had acquired a dedication from GE Capital for $550 million in refinancing &#8212 so long as the company meets many requirements, which includes signing up agreements with publishers to convert delayed payments into loans.</P><P>The possible refinancing from GE Capital is meant to help alleviate strain on the bookseller amid continued declines in book income Dale Hunter Jersey. Over latest weeks, Borders has laid off employees and lost leading executives.</P><P>But Borders is exploring other alternatives, which includes an &#8220in-court restructuring&#8221 &#8212 referring to a prospective bankruptcy filing &#8212 its president, Mike Edwards, explained in a statement.</P><P>&#8220We see the refinancing route as the most practical, efficient and beneficial to all parties, and we are doing work with our vendors in this regard,&#8221 Mr. Edwards explained. &#8220At the identical time, given the current surroundings surrounding Borders, and in purchase to assure that the company can pursue its efforts to place itself to appropriately implement its enterprise prepare, it is prudent as nicely for Borders to explore different avenues.&#8221 </P><P>To safe the GE Capital senior secured financing, Borders need to consider many steps to improve its finances Eric Fehr Jersey. Essential among these is lining up $125 million in junior debt financing, either by converting vendor payables or from other sources. In a series of meetings, Borders has sought to persuade publishers to accept what quantities to a loan for delayed payments. </P><P>The aim has been for publishers to take up one-quarter to one particular-third of Borders&#8217 reorganized debt, but the precise percentage has not nevertheless been established, men and women briefed on the matter previously stated. These folks spoke on problem of anonymity due to the fact they have been not authorized to talk publicly on the matter. </P><P>But publishers stated this week that they remained hesitant to accept Borders&#8217 preliminary offer. Several publishers that have negotiated with Borders as a group stated that the bookseller had still not presented a viable prepare to move the company forward.</P><P>But Borders is exploring other alternatives, such as an &#8220in-court restructuring&#8221 &#8212 referring to a likely bankruptcy filing &#8212 its president, Mike Edwards, said in a statement.</P><P>&#8220We view the refinancing route as the most useful, efficient and useful to all events, and we are functioning with our vendors in this regard,&#8221 Mr. Edwards mentioned. &#8220At the same time, given the recent surroundings surrounding Borders, and in buy to assure that the firm can pursue its efforts to position itself to properly put into action its business plan, it is prudent as nicely for Borders to discover alternative avenues.&#8221 </P><P>To safe the GE Capital senior secured financing, Borders have to get several methods to increase its finances. Crucial among these is lining up $125 million in junior debt financing, both by converting vendor payables or from other sources. In a series of meetings, Borders has sought to persuade publishers to accept what amounts to a loan for delayed payments. </P><P>The aim has been for publishers to take up a single-quarter to one particular-third of Borders&#8217 reorganized debt, but the exact percentage has not but been established, folks briefed on the matter previously said. These people spoke on problem of anonymity since they have been not authorized to communicate publicly on the matter. </P><P>But publishers said this week that they remained hesitant to accept Borders&#8217 preliminary provide. Several publishers that have negotiated with Borders as a group explained that the bookseller had nonetheless not presented a viable prepare to move the company forward.</P><P>Borders had hoped to persuade publishers to accept the firm&#8217s debt conversion proposal by Feb. one, the people briefed on the matter previously mentioned. As of Thursday evening, the bookseller had nevertheless to formally inquire publishers to commit to the prepare.</P><P>So far, neither of Borders&#8217 most significant shareholders &#8212 the organization&#8217s chairman, Bennett S. LeBow, and the hedge fund manager William A. Ackman &#8212 has indicated a willingness to put new money into the bookseller, these folks stated. Mr. Ackman disclosed in a regulatory filing final month that he would be inclined to loan Borders up to $960 million to finance a merger with Barnes &amp Noble Troy Brouwer Jersey, the company&#8217s larger rival.</P><P><U>My comments:</U> This, as you know, as we have talked about here, is an market-wide problem. The Kindles, Nooks and iPads of the globe are turning the page for the the bookstore planet. Take a look in the front of Barnes &amp Noble these days and see in which the push is.</P><P>That is all.</P><P>Speak to me.</P><P style="BORDER-TOP-WIDTH: 0px PADDING-RIGHT: 0px PADDING-LEFT: 0px FONT-WEIGHT: normal BORDER-LEFT-WIDTH: 0px FONT-SIZE: 1em BORDER-BOTTOM-WIDTH: 0px PADDING-BOTTOM: 0px MARGIN: 0px 0px 0.75em PADDING-TOP: 0px BORDER-RIGHT-WIDTH: 0px">--Bob Niedt<BR>Feedback: Hit "submit a comment,"<U>or send anything here.</U></P><UL style="BORDER-TOP-WIDTH: 0px PADDING-RIGHT: 0px PADDING-LEFT: 0px FONT-WEIGHT: normal BORDER-LEFT-WIDTH: 0px LIST-STYLE-POSITION: outside FONT-SIZE: 1em BORDER-BOTTOM-WIDTH: 0px PADDING-BOTTOM: 0px MARGIN: 0px 0px 0.75em 20px PADDING-TOP: 0px LIST-STYLE-TYPE: disc BORDER-RIGHT-WIDTH: 0px"><LI style="BORDER-TOP-WIDTH: 0px PADDING-RIGHT: 0px PADDING-LEFT: 0px FONT-WEIGHT: normal BORDER-LEFT-WIDTH: 0px FONT-SIZE: 1em BORDER-BOTTOM-WIDTH: 0px PADDING-BOTTOM: 0px MARGIN: 0px PADDING-TOP: 0px BORDER-RIGHT-WIDTH: 0px">The most recent edition of the cost-free Retailer Front e-Newsletterwill be shippednext weekto all Buddies of Store Front. Become a Friend.<U>Click right here,</U>send the e-mail, wait for an e-mail reply, ship that back and you are on the listing.<LI style="BORDER-TOP-WIDTH: 0px PADDING-RIGHT: 0px PADDING-LEFT: 0px FONT-WEIGHT: normal BORDER-LEFT-WIDTH: 0px FONT-SIZE: 1em BORDER-BOTTOM-WIDTH: 0px PADDING-BOTTOM: 0px MARGIN: 0px PADDING-TOP: 0px BORDER-RIGHT-WIDTH: 0px">Get Retailer Front news flashes, updates and assorted whatnot by way of Twitter. Go to Twitter.com and indicator up, then<U>hunt for StoreFrontPS</U></p>

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#2

RE: It's not just the Borders bookstore in Syracuse. Borders corporate is making an attempt to survive

in Welcome to the Forum ! Fri May 06, 2016 9:18 am
by lzm • 41 Posts

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#3

RE: It's not just the Borders bookstore in Syracuse. Borders corporate is making an attempt to survive

in Welcome to the Forum ! Wed May 18, 2016 9:02 am
by lllllyuan • 23 Posts

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#4

RE: It's not just the Borders bookstore in Syracuse. Borders corporate is making an attempt to survive

in Welcome to the Forum ! Sat Jul 02, 2016 3:50 am
by brizb1 • 68 Posts

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