College Bookstore Co. Nebraska Book Enters Ch. 11

Law360, New York (June 27, 2011, 7:02 PM EDT) -- College bookstore giant Nebraska Book Co. entered Chapter 11 on Monday in Delaware, saying online sales competitors had hurt its earnings but that the company had a deal in place with senior noteholders to help trim debt.

The bookstore operator’s parent company, NBC Acquisiton Corp., filed for bankruptcy along with seven subsidiaries and affiliates, listing assets of $657.2 million and debts of $564 million as of Feb. 14.

The debtors said Friday they had been hurting in recent years thanks to students' purchasing shift toward online...
To view the full article, register now.