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...
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