Tomorrow Borders Group will face a deadline on a $42.5-million loan from Pershing Square Capital Management. Despite speculation about bankruptcy earlier this week, an unidentified source has said the company “is close” to reaching a financing solution.
Business Week reports that the bookseller “is close to arranging financing that would allow it to repay a loan due this week, two people with knowledge of the matter said.” Nevertheless, Standard & Poor’s analyst Michael Souers noted in the article: “Their long-term viability is still up in the air.”
To read more about what publishing commentators have written about Borders’ impending deadline, follow this link. To read more about layoffs at the bookseller in January, follow this link.