Bankruptcy May Be Only Chapter Left For Borders

Law360 (February 1, 2011, 7:28 PM EST) -- After years of trying to avoid bankruptcy, Borders Group Inc. may have run out of options as the book seller's most recent efforts to restructure out of court seem to have fallen short, analysts say.

“It would appear that the likelihood of a bankruptcy has increased,” said Van Conway, CEO of restructuring firm Conway MacKenzie Inc., as reports of a potential bankruptcy began swirling Tuesday.

The news marks a whirlwind four days for Borders, which announced Sunday that it would delay payments to its publishers, landlords...
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