Filed under: Deals
Reports surfaced Thursday that Borders (BGP) started negotiating with banks for financing to help keep the bookstore chain liquid during bankruptcy proceedings. Later in the evening, GE Capital made a $550 million financing commitment to the embattled company.
This financing should allow Borders the financial flexibility and level of liquidity to advance its restructuring plan. The plan includes closing stores, cutting costs, expanding its rewards program, and increasing non-book offerings — all with the goal of improving cash flow and profits. Borders did note that it will explore alternative possibilities, such as restructuring its debt under court supervision.
Continue reading GE Capital Commits $550 Million to Borders
GE Capital Commits $550 Million to Borders originally appeared on BloggingStocks on Fri, 28 Jan 2011 09:30:00 EST. Please see our terms for use of feeds.







Personal bankruptcy filings have been climbing steadily since 2007 when the U.S. tumbled into a deep recession. With unemployment near 10%, bankruptcy filings are on the rise.
Early Thursday morning, Blockbuster (
There are rumors that BP (
